Rotterdam Market Report

Tue 15 Dec 2015, 12:22 GMT

Rotterdam Market Report

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

Crude:

World fuel indices followed a downward trend today and WTI fell below $35 per barrel in New York for the first time since 2009. In the end of the session, however, indices rebounded.

Prices fell earlier on remarks from Iran that there's absolutely no chance the country will delay plan to boost shipments, even as prices slip. Iran expects international sanctions over its nuclear program to be lifted by the first week of January. The country pumped 2.8 million barrels a day last month.

There is a the possibility that there’s no bottom in sight to the current rout. OPEC member Venezuela warned today that if OPEC will keep the same strategy, prices may down to $20. The extra pressure could be added if tanks used to store crude are filled.

Bunker Market:

Still very bearish prospects for bunkers in ARA due to oversupplied market.

Dutch time: 11.10 hrs

Fuel oil RMG 380 HS: 3.5%: USD 148-151

Marine Gas Oil DMA .89/ LS 0.1%: USD 298-302

ULS fuel oil: USD 275-280.

MGO Netherlands Rotterdam (NL)


		MOL wins LR technology award for wind-assisted propulsion on LNG carriers Lloyd’s Register honours Mitsui O.S.K. Lines for its Wind Challenger decarbonisation work.

		Echandia to supply battery system for Incat’s new 78-metre hybrid ferry Swedish battery maker Echandia wins first order from Australian high-speed ferry builder Incat.

		Global Risk Management posts $9.4m pre-tax profit amid low-volatility energy markets Danish hedging firm grows client base and broadens product range despite subdued market conditions.

		Lloyd’s Register grants first type approval for 100% hydrogen marine engine BeHydro’s spark-ignited engine, tested in Ghent, operates entirely on hydrogen without pilot fuel.

		Molgas completes first LNG bunkering operation at Palermo Spanish energy firm carries out maiden LNG delivery at Sicilian port.

		Tsuneishi China delivers third methanol dual-fuel boxship in series Zhoushan shipbuilder hands over another 5,900-teu Maersk container vessel.

		Everllence completes type approval test for ammonia engine ahead of sea trials Eight classification societies oversee testing of ME-LGIA ammonia engine at Copenhagen research centre.

		CPN bunker barge becomes first vessel listed under Hong Kong’s new quality bunkering scheme Zhong Ran 23 achieves listing under the Marine Department’s voluntary mass flow metering initiative.

		Bunker Holding posts $73m pre-tax profit amid geopolitical headwinds and board overhaul Marine fuels exceeds its own expectations despite 4% revenue decline.

		Oilmar formalises governance structure with establishment of board of directors Dubai-based marine fuels trader Oilmar appoints three-member board.