Praxis Market Update

Tue 19 Apr 2016, 14:50 GMT

Market update from Praxis Energy Agents S.A.

Wall Street futures pointed to a higher open on Tuesday, boosted by rising oil prices and as investors awaited a fresh batch of quarterly earnings reports. Oil prices rose on Tuesday as a strike in Kuwait cut huge amounts of crude out of the supply chain, offsetting worries about a global supply glut. Kuwait's crude output fell to 1.1 million barrels per day on Sunday, from 2.8 million bpd in March as thousands of workers went on strike. But analysts expect the disruption to be brief and markets to soon refocus on the global glut given the failure of major exporters to agree on an output freeze at their Sunday meeting in Doha.

Singapore: Avails are fair. Earliest deliveries from 23rd-24th of April onwards, depending on barge schedules. Tight avails for prompt supplies.

Fujairah: Avails are fair. Earliest deliveries basis 23rd of April onwards, depending on barge schedules.

Istanbul: Avails are fine. Earliest deliveries basis 22nd-23rd of April onwards, depending on barge schedules.


		Damen receives methanol approval for ASD Tug 2713 fuel-flexible design Bureau Veritas and Dutch flag state grant approval, enabling construction of methanol-ready tugs.

		Sing Fuels seeks supply trader for China-focused marine fuel procurement role Singapore-based firm recruiting for position involving supplier negotiations and market tracking across Asia.

		Zhoushan Changhong begins construction on third 11,400-teu LNG dual-fuel container ship CHB2061 is the third vessel in an 18-ship series for Oceanroutes, designed to exceed EEDI Phase III standards.

		Construction begins on fourth 19,000-teu LNG dual-fuel container ship for MSC Vessel is said to be the largest LNG dual-fuel container ship under construction in Zhejiang Province.

		WinGD secures first ethanol-fuelled engine orders for ocean-going vessels Swiss power firm to supply dual-fuel engines for two ore carriers operating under Vale charter.

		Auramarine to supply methanol fuel systems for six Grimaldi Group ro-pax vessels Finnish firm wins contract for methanol systems on Mediterranean vessels scheduled for delivery in 2028–2030.

		Everllence reports more than 160 orders for Mk10.7 two-stroke engine platform Modular engine design allows shipowners to switch between conventional and alternative fuels.

		Berg Propulsion to supply electric propulsion for Türkiye’s most powerful tugs Swedish firm contracted for four diesel-electric firefighting tugs with over 130-tonne bollard pull capacity.

		Hyke partners with Pascal Technologies for electric ferry powertrain in Norway Pascal Technologies to supply integrated powertrain platform for Hyke F-15 Shuttle ordered by Cityboat.

		The importance of fast turnaround times for bunker fuel analysis in today’s market \| Thomas Schmidt, VPS Rapid and reliable fuel quality intelligence is critical to protecting vessels, machinery, operations and commercial performance.