Rotterdam Market Report

Fri 28 Aug 2015, 09:31 GMT

Rotterdam Market Report

Market report from Marine Bunkering (Rotterdam) B.V.

Crude:

Oil rocketed more than 10 percent higher on Thursday, posting its biggest one-day rally in over six years as recovering equity markets and news of diminished crude supplies set off a short-covering scramble by bearish traders.

Snapping back from a deep two-month slump that knocked U.S. crude to 6 1/2 year lows below $40 this week, oil climbed as world stock markets rose on hopes Chinese government measures to stimulate the economy would pay off, while the dollar strengthened as risk aversion eased.

Bunker Market:

Market up a lot based on crude and stronger fuel oil/brent cracks.

Dutch time: 11:08 hrs.

Fuel oil RMG 380 HS: 3.5%: USD 217-220

Marine Gas Oil DMA .89/ LS 0.1%: USD 422-426

ULS fuel oil: USD 395-400.

MGO Netherlands Rotterdam (NL)


		H2SITE closes Series B round above €42m to scale hydrogen membrane technology Fresh capital secured as firm targets large-scale industrial deployment and expansion into Asian markets.

		MHI study points to cost reduction potential in India-to-Singapore green ammonia value chain Mitsubishi Heavy Industries analysis finds value chain optimisation could cut green ammonia costs.

		Yang Ming names third LNG dual-fuel boxship for Asia–North Europe service YM Wayfinder joins two sister vessels already operating on LNG on the FE3 route.

		Flex Commodities appoints Milind Homkar as trade controller Dubai-based trader brings in finance and audit specialist to lead trade control function.

		Safe Bulkers launches first methanol dual-fuel bulk carrier at Chinese shipyard Greek dry bulk operator launches first methanol-powered vessel as part of its fleet renewal programme.

		Mitsubishi Shipbuilding receives order for ammonia fuel handling system MAmmoSS system will support shop testing of ammonia marine engines from two licensors.

		Kongsberg Maritime to lead EU Horizon project targeting wind-assisted propulsion at scale A 15-partner European consortium will use two full-scale vessel demonstrators to validate wind propulsion technology.

		Petrobras warns of extended MGO and VLSFO supply suspension at Port of Itaqui Fuel distributor announces pipeline maintenance shutdowns affecting both MGO and VLSFO supply.

		PowerCell secures SEK 50m marine fuel cell order for two liquid hydrogen cargo ships Swedish fuel cell maker wins contract to power two North Sea hydrogen vessels by 2028.

		MatH2 consortium launched to tackle hydrogen materials barriers New Finnish-led alliance targets materials compatibility challenges holding back hydrogen adoption.