Praxis Market Update

Thu 21 Jan 2010, 14:51 GMT

Crude tumbled to USD 77.8/bbl on slow equity markets trading and with a stronger US dollar to further support the oil drop.

In Suez, local suppliers advise once again to be facing very limited ifo stocks with replenishment yet unknown for either side of the canal.

In Malta, some players report to be out of low sulphur 380 cst expecting new cargo by early next week as per current schedule.

In Rotterdam, some suppliers are reporting to be dry on intermediate ifo until further notice.

In Salvador, mgo availability is reported tight as per latest updates.

In Novorossiysk, one key player advised to be out of low sulphur mgo until mid next week.

In Tokyo, demand is reported thin mainly due to price competition from Busan which has pressed local suppliers for more flexible rates in an effort to increase volumes.

MGO


		Nippon Biofuel secures METI funding for Africa-based marine biofuel supply chain Japanese company to establish Jatropha cultivation and biofuel production facilities in Mozambique and Ghana.

		Everllence’s ammonia-fuelled engine passes factory acceptance test ahead of October delivery Engine built by HHI-EMD will power Eastern Pacific Shipping’s very large ammonia carriers.

		LPC and Gram Marine launch marine lubricants hub in Cameroon Partnership will supply Cyclon and Avin Oil marine lubricants to vessels at West African ports.

		Bunker One expands ULSFO 0.10% supply across northern Germany Supplier adds Weser River ports to network, including Bremerhaven, Bremen, Brake, and Nordenham.

		NYK Line, Golden Island and Yara Clean Ammonia sign term sheet for Singapore ammonia bunkering venture Three companies agree to explore marketing and supply of low-carbon ammonia fuel in Singapore.

		IMO committee to discuss Net-Zero Framework and North-East Atlantic NOx ECA MEPC 84 to consider 57 documents submitted for consideration on the reduction of greenhouse gas emissions.

		Capetanakis: Bunker Buyers Working Group not a pricing forum Past Chair says aim of working group is to ensure the perspective of buyers is reflected in policy work.

		Petronor and H2SITE to deploy membrane technology for hydrogen separation at Spanish refinery Partnership aims to integrate membrane reactor into steam methane reforming process to enhance efficiency.

		Peninsula marks 30 years of marine fuel supply operations Bunker supplier's network now covers more than 50 physical supply ports and 21 commercial offices.

		MOL completes world’s first retrofit installation of Wind Challenger sail system on operating coal carrier Hard-sail propulsion system installed on Kurotakisan Maru III during service for J-Power coal transport operations.