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


		Singapore 12-month bunker calls hit all-time high in July TTM calls at world's largest bunkering hub reach record levels despite softer sales volumes.

		Singapore T3M bunker sales stay below 14m tonnes for fourth month running Rolling three-month volumes remain subdued despite modest month-on-month recovery in July.

		Peru’s Port of Callao launches first shore power system in Latin America DP World Callao’s onshore power supply system could cut over 6,300 tonnes of CO₂ annually.

		New Times Shipbuilding delivers LNG dual-fuel crude oil tanker to Capital Chinese yard hands over 155,500-dwt vessel in ceremony attended by owner’s representative.

		Shell completes maiden LNG bunkering operation in Valencia Delivery to MSC vessel facilitated by Fratelli Cosulich said to be first-ever LNG bunker supply at Spanish port.

		PIL hiring senior marine fuels executive to manage global bunkering operations Singapore-based role includes oversight of fuel procurement and delivery operations, covering PIL's fleet of container and multi-purpose vessels.

		Changhong International Shipbuilding cuts steel on two more 3100-teu boxships for Costamare HSFO-fuelled vessels feature scrubbers, SCR systems and shore power connections to meet emissions requirements.

		Lloyd’s Register and Maersk Mc-Kinney Møller Center launch ammonia safety and training resources for shipping New tools aim to help operators build the safety management and competency frameworks needed for ammonia-fuelled vessels.

		IBT Bunkering & Trading appoints Kevin Döhmen to manage new Singapore office Döhmen tasked with developing IBT’s operation in the Asian city-state.

		Peak takes delivery of third S-class vessel and cuts steel for ammonia-fuelled ship Norwegian operator marks two events at Chinese yard as ammonia-powered newbuild programme advances.