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Tue 21 Oct 2014, 08:50 GMT

Market Briefing


Chinese growth data and supply/demand-driven market (Brent: $86.0).

Fuel oil trend

Rotterdam: $ 5 higher
Singapore: $ 1 lower
US Gulf: $ 3 higher

Chinese growth data and supply/demand-driven market (Brent: $86.0)

The oil market currently seems supply/demand driven – with ample supply and dwindling demand around the world. The U.S. and Russia are pumping record-high levels of oil and OPEC countries are hesitating to curb oil output. The world's largest oil producer, Saudi Arabia, pumped around 9.7 million bpd in September . Exports to among others the U.S. is pressured by the shale oil boom and August exports was the lowest since 2011 (6.663 mbpd). After Canada, Saudi Arabia is the biggest exporter to the U.S., but average exports to the U.S. was around 1.0 – 1.2 mbpd (May-August) compared to 1.3-1.6 mbpd (mid-2013-April 2014).

Economic data from China this morning showed slightly lower GDP growth (7.3% versus 7.5% previous), but improved Industrial Production (8.0% versus 6.9% previous). Government target for GDP 2014 is 7.5%.

Main economic data today is from the U.S.; the September existing home sales (16.00 CET). Tonight, the API will publish the weekly oil inventory data; a(nother) increase in crude stock is expected.

BP  
Tsurugidake naming ceremony. MOL holds naming ceremony for fourth LNG dual-fuel VLCC  

Vessel, named Tsurugidake, features an LNG fuel tank with a capacity exceeding 10,000 cbm.
VPS Carbon Reduction seminar graphic. VPS to host Bergen seminar on marine fuel quality, lubricants and decarbonisation regulation  

Free-to-attend event on September 16 will feature speakers from VPS and DNV.
Launching ceremony of Carlotta Cosulich. Cosulich Marine Energy launches third methanol-ready bunker tanker in China  

Carlotta Cosulich launched at Taizhou Maple Leaf Shipyard, leaving one vessel in series still to come.
Carnival Corporation logo. Carnival's CSMART seeks specialist instructor for LNG-as-fuel training in Netherlands  

Role focused on delivering training to through classroom instruction and simulator-based learning.
Port of Galveston. Stabilis Solutions nears 100 LNG bunkering operations at Galveston  

Houston-based supplier highlights its Gulf Coast LNG bunkering record as plans advance for new liquefaction facility.
Central control room at the green methanol plant. Towngas hosts Hong Kong government delegation at Inner Mongolia green methanol plant  

Hong Kong's Transport and Logistics Bureau tours VENEX facility as green methanol capacity scales to 300,000 tonnes.
CMA CGM Notre Dame vessel at Singapore Port. Singapore 12-month bunker calls hit all-time high in July  

TTM calls at world's largest bunkering hub reach record levels despite softer sales volumes.
Cargo port in Singapore. Singapore T3M bunker sales stay below 14m tonnes for fourth month running  

Rolling three-month volumes remain subdued despite modest month-on-month recovery in July.
Shore power system launch at Port of Callao. Peru’s Port of Callao launches first shore power system in Latin America  

DP World Callao’s onshore power supply system could cut over 6,300 tonnes of CO₂ annually.
Aristodimos vessel. New Times Shipbuilding delivers LNG dual-fuel crude oil tanker to Capital  

Chinese yard hands over 155,500-dwt vessel in ceremony attended by owner’s representative.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



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