Praxis Market Update

Tue 14 Apr 2015, 16:58 GMT

Market update from Praxis Energy Agents S.A.

Yemen's liquefied natural gas (LNG) plant said on Tuesday it declared force majeure due to deteriorating security and halted all production. Yemen is a small oil producer, pumping only around 130,000 bpd of crude in recent months, but analysts fear its civil war could destabilize its northern neighbor, Saudi Arabia. "Geopolitical risk in oil markets remains elevated," JP Morgan analysts said in a note. "From a fundamental perspective however, supply from the Middle East is expected to remain high, with Saudi Arabia and Iraqi production on the rise."

Singapore: Demand was average and avails fine. The earliest dates for deliveries were from 16-17th April.

Fujairah: Avails were tight, especially IFO 180. Earliest deliveries were possible depending on supplier barge schedules.

Istanbul: Avails are fine. Earliest deliveries were possible today depending on supplier barge schedules.

BP LNG


		NE Atlantic ECA will cause significant change to the current fuel mix \| Steve Bee, VPS The possibility of off-spec issues highlights the continuing need for proactive fuel testing to protect vessels.

		Smart ships failing to convert data into actionable intelligence, warns SmartSea Maritime technology firm claims vessels collect vast amounts of data but lack integration to support decision-making.

		DNV forecasts 100-fold growth in clean hydrogen by 2060, with China leading expansion Classification society projects $3.2tn investment in hydrogen sector, with maritime accounting for 15% of clean hydrogen use.

		Dual-fuel container ship and vehicle carrier fleet surpasses 1,200 vessels World Shipping Council reports 65% year-on-year increase in operational dual-fuel vessels to 440 ships.

		European Shipowners calls for ETS revenue investment and fuel supplier mandate ECSA urges the EU to invest €9bn in annual ETS revenues in fuel production and infrastructure.

		Singapore bunker industry urged to prioritise resilience and collaboration SSA committee vice chair highlights energy security and crisis readiness at Marine Fuels Forum 2026.

		TFG Marine receives bunker safety award from Singapore maritime authority Marine fuel supplier recognised for safety standards and operational performance at MPA Marine Fuel Forum.

		Bunker surveyor sought in Rotterdam to meet increased demand Dutch firm MCE Marine Surveyors is recruiting for a quantitative fuel inspection role.

		GCMD highlights BHP biofuel trials to address scaling challenges in maritime decarbonisation Mining company discusses need for traceability and coordinated progress across supply, cost and operational readiness.

		Peninsula implements energy efficiency measures across bunker supply fleet Marine fuel supplier focusing on data-driven upgrades and operational measures to cut consumption.