Praxis Market Update

Thu 20 May 2010, 17:28 GMT

After a higher opening near USD 71/bbl, crude prices plummeted back to USD 69/bbl, with EIA’s report failing to give clear signs regarding the trend in demand and currency markets in the spotlight for investors for further guidance.

In Singapore, delivery schedules are still looking good for 25th with players maintaining their levels, uncertain of the market tendency.

In Arzew, bad weather conditions still pose a problem for bunker calls at the anchorage, which are expected to continue until Monday.

In Ceuta, earliest avails are looking towards 23rd onwards due to congestion.

In Panama most players remain tight on both product and barge avails until further notice.

In Argentina, and especially in Zona Comun, all players are out of both IFO and MGO with replenishment schedule looking early June onwards.

In Alpha Zone, local sources report also serious problems regarding inventories, but with situation expected to improve earlier than Argentina - by the beginning of next week.

MGO


		Bermuda Container Line imposes emergency bunker surcharge citing Iran War fuel price spike Shipping operator to add $150 per TEU charge from 1 May amid geopolitical fuel cost pressures.

		Zhejiang’s first methanol-powered container ship launches in Jiaxing Vessel uses methanol propulsion technology to reduce carbon dioxide emissions by 90%.

		TES joins SEA-LNG coalition to advance e-methane as marine fuel Green energy company targets 1m tonnes annual e-methane production by 2030 for shipping decarbonisation.

		IBIA to host workshop on ethanol and methanol marine fuels during Singapore Maritime Week Half-day event will examine alcohol-based fuel pathways and integration into shipping’s multi-fuel landscape.

		ROC begins construction of second chemical tanker for Essberger Chinese shipbuilder holds steel-cutting ceremony for 13,000-dwt methanol-ready vessel with ice class capability.

		Norsepower and Cosco Shipping Heavy Industry Equipment sign wind propulsion cooperation agreement Wind propulsion technology provider partners with Chinese shipyard to scale rotor sail production.

		Shipping firms struggle to prioritise decarbonisation investments amid regulatory uncertainty, Wärtsilä survey finds Survey of 225 maritime executives reveals 70% say uncertainty hinders investment decisions despite regulatory pressure.

		Longitude Engineering unveils IMT Isca G-Flex PSV design with alternative fuel capability Naval architecture firm launches adaptable platform support vessel design based on the IMT-984 G-Class hull.

		Shore power infrastructure is key to cutting ferry emissions in European cities, says EmissionLink Port electrification is needed to enable vessels to switch off engines at berth, reducing urban pollution.

		Singapore prioritises maritime resilience amid geopolitical uncertainty, eyes digitalisation and green fuels MPA chief outlines the sector’s adaptation to supply chain disruptions while advancing automation and alternative fuels.