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


		Wallenius Wilhelmsen takes delivery of first methanol-ready Shaper Class vessel The dual-fuel Arctic Tern will enter service on the Asia–Europe trade almost immediately.

		Hapag-Lloyd signs shore power agreement with Hamburg Port Authority Deal commits the carrier to using onshore power supply at all Hamburg terminals.

		KPI OceanConnect reports 21% rise in pre-tax earnings for 2025/26 Marine fuel firm delivers 13 million tonnes and expands carbon markets capabilities amid geopolitical turbulence.

		VTTI Dalian completes first large-scale 'green methanol' vessel loading Cargo to be supplied as marine fuel in Shanghai.

		Oilmar appoints Steff Tan as marine fuels trader in Singapore New hire's background spans bunker operations, logistics, commercial trading, marketing, and business development.

		Cosco Shipping adds methanol-ready bulk carrier Feng Da Hai to fleet The 64,000-tonne vessel is equipped with a methanol fuel system for future low-carbon operations.

		Oilmar welcomes summer intern to Dubai branch Arpit Aryan will rotate across the bunker fuel trading, finance and operations departments.

		Oilmar takes on trading and finance intern in Dubai New intern to rotate across trading, operations and finance teams.

		Seaspan and Maersk deepen fleet efficiency collaboration with $75m upgrade programme Retrofit package for four 13,000-teu vessels includes installation of shaft generator to reduce auxiliary engine fuel consumption.

		EU Parliament vote on soy biofuels could expose bloc to $5.6bn a year in trade sanctions MEPs reject regulation that would have phased out soy biofuels, risking WTO retaliation penalties.