Sign up
Log in Sign up
Wed 14 Mar 2018, 08:10 GMT

Mixed inventory data and upbeat Chinese economic data


By A/S Global Risk Management.

Michael Poulson, Global Risk Management.
Image credit: Global Risk Management
The weekly oil stocks data from the American Petroleum Institute (API) published last night showed a build in crude oil stocks of 1.15 mio. barrels last week. Gasoline and distillates stocks fell by 1.3 and 4.3 mio. barrels respectively. Now this afternoon's report from the Energy Information Administration (EIA) will be followed closely for confirmation/deviation of this trend and some volatility could be expected. Consensus is a build in crude oil stocks, draws in gasoline and distillates stocks.

Today, the monthly oil market report from OPEC is published, likely giving insights to status of the group's compliance to the current oil production cut deal, supply/demand balance and outlook for crude oil market development going forward..

Turning to economic data, overnight Chinese Industrial Production numbers for February came out better than expected at 7.2% (6.2% previous). As China is a huge oil consumer, upbeat economic data tends to be bullish for oil prices as increased activity could spur increased oil consumption. A couple of ECB speeches today and Eurogroup meetings continue. U.S. retail sales data is also published today.

Factory Acceptance Testing (FAT) for X52DF-A-1.0 engine. WinGD completes factory testing of ammonia-fuelled engine for LPG carrier  

X52DF-A-1.0 engine tested in China ahead of installation on first of four vessels under construction.
Drift Energy energy-harvesting ship render. RINA awards first approval in principle for energy-harvesting ship  

Drift Energy receives certification for vessel design that generates clean energy at sea.
MSC World Europa vessel. MSC Cruises achieves flag state recognition for verified methane emissions data  

Bureau Veritas certifies actual methane slip values for two LNG-fuelled cruise ships.
IBIA and EENMA MoU signing. IBIA and Greek shortsea shipowners sign cooperation agreement  

The International Bunker Industry Association partners with EENMA to support the marine fuels sector.
Hapag-Lloyd and Scan Global Logistics logos. Scan Global Logistics and Hapag-Lloyd expand biofuel partnership to cut shipping emissions  

Collaboration claims to avoid 8,500 tonnes of CO₂e emissions through second-generation biofuels.
Lapis Ace ship-to-ship LNG bunkering operation. MOL signs first annual LNG bunkering contract for car carriers in Vancouver  

Japanese shipping company secures year-round fuel supply with Seaspan Energy at Canadian port.
Gasum's LNG bunkering vessel Coralius. Gasum’s maritime bio-LNG sales surge from 0.8% to 12.3% in 2025  

Nordic energy company attributes growth to FuelEU Maritime regulation introduced in 2025.
Port Authority of Valencia board meeting. Valenciaport gives LNG bunkering go-ahead to Shell and Axpo Iberia  

Port authority approves two LNG bunkering authorisations as part of its decarbonisation strategy.
Northern Purpose naming ceremony. BSM enters LCO₂ carrier segment with management of dual-fuel Northern Purpose  

Bernhard Schulte Shipmanagement takes over first liquefied carbon dioxide carrier for Northern Lights project.
Anna Cosulich vessel. Fratelli Cosulich takes delivery of methanol-ready bunker tanker Anna Cosulich  

Vessel built in China will head to Singapore to support group's bunkering operations.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG/LBM Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane/e-NG Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind power



 Recommended