Praxis Market Update

Tue 8 Feb 2011, 12:59 GMT

A signal towards a positive change in the market sentiment is that BDI posted its first rise since the middle of january. WTI crude currently trading at USD 87.59 and Brent showing marginal changes - trading between USD 99.84/bbl and USD 100/bbl .

In Singapore most suppliers were not in a position to serve requirements dated prior the 13th whereas those having earlier avails were quoting high premiums.

In Jeddah product shortage continues with some players expecting 380cst replenishment in 2 weeks.

Novo players still facing tight availability for 180 and MGO.

In Zonna Commun deliveries are pushed towards 15th due to congestion.

In Vladivostock one supplier is out of product till 14th-15th of February .

MGO


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		IBIA chair completes two-year term, citing expansion in regulatory engagement and membership Outgoing chair to remain on Global Board and lead Future Fuels and Bunker Buyers’ working groups.

		LNG and methanol investments risk becoming 'dead ends' for shipping decarbonisation, UCL study finds Research warns transitional marine fuels may lock in fossil infrastructure rather than enabling an ammonia pathway.

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		Wah Kwong takes delivery of first LNG-ready LR2 tanker with Bureau Veritas SMART notation Frontier Venture is first in newbuild series to achieve Group 3 'augmented ship' capabilities.

		IMO calls for expert nominations for methane fuels technical seminar in May Event to cover LNG, biomethane and e-methane production, safe use and blending.

		Emvolon to present stranded methane conversion technology at Industry Growth Forum Company selected from over 270 entrepreneurs to showcase modular fuel production system in Denver.

		Tsuneishi Shipbuilding delivers world’s first LNG dual-fuel Kamsarmax bulk carrier Japanese shipbuilder manufactures LNG fuel tank in-house, achieving over 50% EEDI reduction.

		Incat Crowther designs 80-metre high-speed ro-pax ferry for South Korean Yellow Sea routes Vessel will transport 572 passengers and 60 cars between Incheon and Ongjin County islands.

		Grieg Maritime Group orders GT Wings jet sails for Star Kirkenes retrofit Norwegian shipowner signs contract for two AirWing 20 units with option for three more vessels.