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Tue 12 May 2015, 08:08 GMT

Market Briefing


Oil slightly down on dollar and ample supply expectations (Brent: $65.1).

Oil slightly down on dollar and ample supply expectations (Brent: $65.1)

The solid job numbers on Friday and Greece jitters strengthened the dollar and weighs on oil prices this week together with expectations of ample supply. Today, OPEC publishes its monthly report - another abundant output is expected, as Saudi Arabia already announced that it pumped 10.308 mio. bpd in April.

Greece is taking headlines as the country's debts to the International Monetary Fund are due for payment today and negotiations for the coming payments continue in the EU. The country seems to be running out of money and markets fear that the country will not be able to pay up in time.

Tonight, the weekly oil stocks will be published by the American Petroleum Institute ahead of tomorrow’s official EIA report - a small draw in crude is expected.

It is a quiet day on the economic data front - main data is the JOLT's Job Openings, indicating the number of vacant jobs and the Federal Budget Balance. Early tomorrow, Chinese Industrial Production data will be followed closely along with a row of European Consumer Price Indices.

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.




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