Praxis Market Update

Wed 28 Jul 2010, 15:24 GMT

Oil market opened bearish with crude oil values shrugging off its last gains and pushing towards USD 77/bbl, as investors reacted on the API’s estimates of a rise in US inventories as well as defaulting consumers’ confidence, which echoes negatively on energy demand perspectives.

In Singapore, marine demand moved below average, as buyers seem to hold back on first signs of improvement, waiting for a more favorable timing.

In Yuzhny, one player is currently out of stock for both IFO and MGO until further notice.

In Kiel, one supplier advised fully committed barge schedule until the 4th August according to latest update.

In Kali Limenes, earliest delivery supply is presently given for the 30th onwards as per current barge schedules in the area.

MGO


		Guangzhou Shipyard secures Suezmax order, delivers vessels ahead of schedule China State Shipbuilding subsidiary reports nine vessel deliveries in the first quarter of 2026.

		Renewable ammonia pipeline grows despite Norway project freeze GENA Solutions tracks 325 projects totalling 146 MMT of capacity by 2034 despite execution challenges.

		Exmar names world’s first ocean-going ammonia dual-fuel gas carriers in South Korea Two 46,000-cbm vessels can reduce CO₂ emissions by up to 90% during navigation.

		Gulf Marine expands bonded lubricant supply network in China’s Fujian province Company adds supply points in Putian, Ningde and Fuqing, covering 20 terminals across the region.

		Bureau Veritas classifies Excelerate Energy’s new 170,000-cbm FSRU Excelerate Acadia Vessel built by HD Hyundai Heavy Industries features dual-fuel engines and proprietary regasification system.

		Osprey Energy seeks junior bunker trader to support Cebu trading activities from Netherlands Dutch marine fuel supplier targets Cebu region expansion through new training programme for Filipino candidates.

		KPI OceanConnect highlights falling EUA prices as opportunity for shipowners to lock in compliance costs Marine fuel firm says timing carbon allowance purchases can reduce costs as EU emissions scope expands.

		RINA partners with Hanwha Group on battery-hybrid propulsion for ro-ro ferries Classification society to provide regulatory compliance verification for hybrid battery systems on newbuilds and retrofits.

		HGK Shipping’s Amadeus Titanium fitted with wind assistance system Coastal vessel equipped with VentoFoils at Dutch port to reduce fuel consumption on Covestro routes.

		Bunker One expands physical supply operations to Tallinn and Finland Marine fuel supplier extends Baltic Sea coverage with new operational presence in Estonia and Finland.