Rotterdam Market Report

Mon 18 Jan 2016, 11:47 GMT

Rotterdam Market Report

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

Crude:

World fuel indices declined to a new 12-year low below $30 today. At the moment, Iran is trying to regain lost market share (preferably beginning from India and its old partners in Europe) and doesn't intend to pressure prices with an export increase. However, even if not all sanctions are lifted immediately once the agreement comes into effect, any additional oil would add to a glut. Today the average price for a basket of OPEC crude fell to $25 per barrel, even before Iranian exports hit the market.

Bunker Market:

Bunker market weak in line with crude numbers. Still quiet market.

Dutch time: 12.25 hrs

Fuel oil RMG 380 HS: 3.5%: USD 109-111

Marine Gas Oil DMA .89/ LS 0.1%: USD 249-253

ULS fuel oil: USD 220-225.

MGO Netherlands Rotterdam (NL)


		Europe risks falling behind China in race to produce e-fuels for shipping Europe has 69 e-fuel projects but only six are operational, while China is scaling rapidly.

		Sing Fuels opens applications for junior bunker trader role Singapore-based firm seeks candidates with one to two years of experience in marine fuels or the wider maritime industry.

		Eleven Energy eyes Athens expansion with trader hire Riyadh-headquartered firm looking to open its second office in Europe.

		Monaco backs Scorpio Ship Management in European hydrogen propulsion project Government co-finances Scorpio’s role in Project Mariner as Europe pushes to develop hydrogen propulsion technology for commercial shipping.

		Exmar takes delivery of second dual-fuel ammonia carrier at HD Hyundai Heavy Industries Arlon is second in a planned series of four ammonia dual-fuel midsize gas carriers.

		IBT Bunkering & Trading launches Singapore desk to complement Hamburg operation German bunker firm says the move gives it round-the-clock coverage across two continents.

		Singapore awards eight new LNG bunkering licences ahead of September launch The Maritime and Port Authority of Singapore is expanding the city-state’s LNG bunkering capacity with eight new five-year licences.

		New Times Shipbuilding launches two LNG dual-fuel crude oil tankers for Maran and Capital Ship Two 155,500-dwt LNG dual-fuel tankers floated out for Greek shipping groups.

		Naming ceremony held for Huangpu Wenchong's first methanol dual-fuel bulkers Two 65,000-tonne vessels built for Limassol-based Lemissoler Navigation.

		Damen launches second CSOV 9020 for TSSM, prepared for future methanol operation The vessel, to be named TSS Challenger, is due for delivery in early 2027.