Mon 9 Nov 2015, 11:04 GMT

Rotterdam Market Report


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



Crude:

World fuel indices continue to decline on a better-than-expected U.S. jobs report. Nonfarm payrolls gained 271,000 last month (the biggest this year) while the U.S. jobless rate fell to 5 percent, the lowest level since April 2008.

Federal Reserve Chair Janet Yellen said this week that a U.S. interest-rate increase remains a possibility for 2015.

Meanwhile U.S. crude explorers pulled back drilling rigs for a 10th straight week. According to Baker Hughes Inc., rigs targeting oil fell by 6 to 572, extending a five-year low after nearly 100 were idled since the start of September.

Despite the cutbacks, supplies haven’t yet declined as new techniques increase efficiency and keep production flowing. Output rose by 48,000 barrels a day last week to 9.2 million barrels.

Bunker Market:

Rotterdam high sulphur fuel oil market fundamentals remained weak Friday, amid persistent softness caused by oversupply in the region.

Dutch time: 10.50 hrs

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

Marine Gas Oil DMA .89/ LS 0.1%: USD 414-419

ULS fuel oil: USD 385-390.


Bunker Holding logo. Bunker Holding seeks risk specialist for Copenhagen internal pricing desk  

Danish bunker group is expanding its internal pricing team to meet growing demand for fixed-price solutions.

Global biofuels demand chart. Biofuel demand could surge 70% by 2030 as food price fears mount  

T&E warns governments risk trading an oil crisis for a food crisis as biofuel targets strain vegetable oil and fertiliser markets.

Shore power illustration. Shore power shifts from voluntary measure to compliance requirement, DNV white paper finds  

Shore power is moving from an optional emissions tool to a regulatory obligation for shipowners in key trades.

Giosuè Vezzuto and Ahmed Eldemerdash. Baker Hughes’ NovaLT 16 gas turbine receives RINA type approval for marine propulsion on hydrogen and natural gas  

Certification covers operation on natural gas and blends up to 100% hydrogen for marine use.

AiP award ceremony for nuclear reactor integration in cargo vessel design. ABS grants approval in principle for nuclear reactor integration in cargo vessel design  

ABS, HD KSOE, Capital Maritime Group and MIT have received approval in principle for a nuclear-powered cargo vessel propulsion system.

Green e-fuel export corridor consortium partners logos. Green e-fuel export corridor between Brazil and Belgium advances to feasibility stage  

A consortium has been formed to develop a green e-fuel corridor linking Porto do Açu to Antwerp-Bruges.

Naming ceremony of Ocean Express and Ocean Navigator vessels. Sallaum Lines takes delivery of two LNG-fuelled PCTCs in simultaneous handover ceremony  

RoRo carrier receives MV Ocean Express and MV Ocean Navigator from Chinese shipyard.

Person signing a document. Agastya Group signs MoU with Andhra Pradesh government for 1MTPA green methanol hub at Mulapeta Port  

India-based Agastya Group plans a $6.5bn green methanol export facility on the country's east coast.

Delivery ceremony of Maran Myrto vessel. New Times Shipbuilding cuts steel on two crude tankers and delivers LNG dual-fuel vessel  

Chinese yard marks a busy 4 June with steel-cutting ceremonies and a tanker delivery to Maran.

Christening ceremony of Mercedes Pinto vessel. Baleària Canarias christens €128m dual-fuel fast ferry Mercedes Pinto for inter-island routes  

The catamaran will connect Tenerife, Gran Canaria and Fuerteventura with six daily departures.