Praxis Market Update

Tue 23 Mar 2010, 16:02 GMT

Crude met a quick recovery after its last loss, edging back to USD 82/bbl range, supported by stronger US dollar and speculations on an imminent european bailout plan for the Greek economy.

In Singapore, delivery schedules are generally looking towards the 27th, though there were some suppliers reporting the possibility to accommodate even on prompt dates.

In Novorossiysk, one player is currently facing tight stocks on both 180cst and gasoil, until further notice of replenishment.

In Piraeus, schedules are reported good to serve on prompt dates since demand is still considered below average according to local suppliers. In Kali Limenes, low sulphur MGO replenishment is expected by the 25th as per latest info.

In Hong Kong, both product and barge avails are reported presently good.

In Busan, earliest supply date is given for the 26th according to local updates.

MGO


		Propeller Fuels and Proteus Supply and Trading form commercial partnership to expand Americas coverage US-based Proteus and UK-based Propeller Fuels unite operations across the Americas and beyond.

		Turkon Line’s LNG-powered Kaşif Kalkavan makes maiden call at Marport Türkiye’s largest domestically built LNG-fuelled container ship has docked at Marport for the first time.

		Flex Commodities appoints Vinoth Kumar as general accountant Dubai-based bunker trader strengthens finance team with new accounting hire.

		PIL's first LNG dual-fuel boxship receives cybersecurity certification on Singapore maiden call Pacific International Lines' 13,000-teu vessel Kota Elok becomes the first PIL ship certified to IACS cyber-resilience standards.

		Wärtsilä and Carnival Corporation sign 8-year lifecycle agreement for LNG-fuelled cruise vessels Deal covers four vessels across the Princess Cruises and Carnival Cruise Line fleets.

		Exmar vessel completes first commercial voyage on ammonia dual-fuel Antwerpen sailed from China to India using ammonia in dual-fuel mode during commercial service.

		Changhong International launches ninth LR2 tanker in Navios series Vessel includes future methanol and LNG conversion capability as well as shore power provision.

		European shipowners back EU ETS revenue earmarking but warn proposal falls short on clean technology support ECSA welcomes fuel support and revenue earmarking but calls for broader technology eligibility and a clear IMO withdrawal clause.

		WSC backs EU ETS fuel revenue reinvestment but warns over port competitiveness rules The World Shipping Council welcomes proposed ETS fuel mechanism changes but flags concerns over neighbouring port proposals.

		Western Baltic Engineering unveils green methanol bunkering vessel concept for Klaipėda Concept vessel design features an 800-tonne capacity and annual supply potential of 250,000 tonnes.