Rotterdam Market Report

Fri 13 Nov 2015, 11:23 GMT

Rotterdam Market Report

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

Crude:

Surplus oil inventories are at the highest level in at least a decade because of increased global production, according to the Organization of Petroleum Exporting Countries.

Stockpiles in developed economies are 210 million barrels higher than their five-year average, exceeding the glut that accumulated in early 2009 after the financial crisis, the organization said in a report. Slowing non-OPEC supply and rising demand for winter fuels could "help alleviate the current overhang", enabling a recovery in prices, it said. The group's own production slipped last month because of lower output in Iraq.

Bunker Market:

The Northwest European high sulphur fuel oil market remained under pressure Thursday due to an abundance of prompt supply and muted buying interest. The prompt barge market was heavily weighed down.

Dutch time: 10.58 hrs

Fuel oil RMG 380 HS: 3.5%: USD 195-197

Marine Gas Oil DMA .89/ LS 0.1%: USD 396-399

ULS fuel oil: USD 370-375.

MGO Netherlands Rotterdam (NL)


		Asyad Shipping adopts AuctionConnect digital bunker platform under three-year deal Middle East shipping company to implement auction-based procurement system across fleet operations.

		LNG remains the most deployable decarbonisation option for cruise shipping, Lloyd’s Register report finds Classification society’s latest research examines the fuel’s role in the sector’s energy transition and pathway to net zero.

		ABS engineer to discuss performance-based hydrogen framework at SPE symposium Dr Ibrahim Muritala to join panel examining shift from colour-based hydrogen labelling to carbon intensity metrics.

		Cosco Shipping completes methanol dual-fuel retrofits on four ultra-large container vessels Chinese shipping line retrofits 20,000-teu and 13,800-teu vessels with methanol propulsion systems.

		Chinese yard launches LNG dual-fuel Suezmax Crude carrier with LNG propulsion launched in Jiangsu province.

		Keel laid for LNG dual-fuel crude oil tanker Chinese yard begins construction on 155,500-dwt vessel with Lloyd’s Register classification.

		BW LNG vessel completes first gassing-up operation with bunker barge BW Lesmes transitions from drydock to cargo readiness using an LNG bunker barge.

		LNG marine fuel shows up to 29% emissions reduction in new SGMF study Latest life cycle assessment shows improved methane slip control, with well-to-wake reductions of up to 25%.

		Blue Energy Partners appoints Michelle McDade as head of operations McDade brings more than eight years of bunkering experience to the Oslo-based role.

		Venture Energy signs green methanol supply deal with Shenji Energy Hong Kong-based firm to purchase ISCC EU-certified biomass-derived methanol for shipping clients.