Praxis Market Update

Mon 11 Jan 2010, 15:35 GMT

Oil market opened higher with latest Chinese trade figures leading the trend, pushing up crude to USD 83.60/bbl with the support also from a weaker USD and supply concerns from the recent rebel attack at Nigerian pipe lines.

In Singapore, most players were offering firm for requirements dated from 15th onwards, whereas some appeared very keen to compete aggressively on bigger 180cst volumes while market levels are moving still on the high side.

In Richards Bay, situation is reported tight in respect to availability with one key supplier advising fully committed inventories.

In Gibraltar, suppliers seem concerned regarding weather conditions warning of possible delays in case situation gets worse in the Strait.

In Rotterdam, schedules are looking earliest towards end of the week according to last updates.

In Hong Kong, some suppliers report tight mgo avails for the following days, thus not able to accommodate prompt distillate requirements

MGO


		Bunker Holding webinar to compare FuelEU Maritime compliance costs ahead of 30 April deadline Njord-hosted event will examine pooling versus borrowing options using real-world data from the maritime sector.

		Oilmar DMCC seeks bunker traders for Singapore office Marine fuel trading firm is recruiting mid-level and senior professionals to expand Asia-Pacific marine fuels operations.

		Oilmar DMCC seeks senior bunker trader for Dubai operations Dubai-based energy firm recruits experienced marine fuels trader to expand Middle East portfolio.

		Zhoushan Changhong secures orders through 2029 with LNG dual-fuel container ships Chinese shipyard reports full order book as it constructs 19,000-teu vessels for MSC Group.

		K Line secures long-term bio-LNG supply for car carrier fleet Japanese shipping company expects to reduce greenhouse gas emissions by 60,800 tonnes annually.

		Methanol- and ammonia-ready container ship delivered to ONE Approval in Principle obtained from Lloyd’s Register for future methanol and ammonia fuel conversion.

		World Fuel Services and West Coast Clean Fuels launch methanol bunkering across US ports First over-the-water methanol delivery completed in South Florida with Coast Guard-approved procedures.

		Burando Energies appoints Valerie Ahrens as global head of methanol Ahrens brings more than 30 years of energy sector experience to the marine fuels supplier.

		New Sea Generation seeks junior bunker trader in Greece Greek bunker firm advertises role requiring commitment to demanding work schedule and operational responsibilities.

		IINO Lines secures sustainable shipping finance for methanol dual-fuel VLCC Japanese shipowner signs impact financing agreement with Mizuho Bank for alternative-fuel tanker.