Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Tue 9 Jan 2018, 09:22 GMT

Oil prices around three-year highs


By A/S Global Risk Management.

Brent oil price headed back into the $68 area this morning. The most likely potential market mover will be tonight's weekly oil inventory data.

Allegedly, current geopolitical tensions in OPEC member countries Iran and Venezuela are monitored by OPEC, but no measures are on the way to counter potential production disruptions from OPEC's side yet unless there are significant and sustained disruptions. In Libya, a large pipeline is restarting after suffering damage last week.

Tonight, the weekly oil stocks data from the American Petroleum Institute (API) is published. The last 5 weeks have shown huge draws in crude oil stocks and consensus is another drop this week. Interesting to see if the cold weather has affected the distillates and gasoline inventories in the huge country.

Tomorrow, the oil inventory report from the EIA will be published and followed just as closely.

Turning to economic data, today sees German trade activities along with Eurozone unemployment and U.S. JOLTs job openings. .

UEC60LSJ ammonia-fuelled engine render. J-ENG secures orders for four ammonia-fuelled engines under Japanese PCTC project  

Vessels form part of plan to build four ammonia-fuelled car carriers, a dedicated bunkering vessel and supply chain.
Hanwha Power receives ABS AiP for battery-powered containership design. ABS grants AIP to Hanwha Power for 1,700-TEU battery-powered container ship  

Design uses roughly 151 MWh of swappable battery storage for fully electric propulsion on a container vessel.
Peter Krahenbuhl, WinGD. WinGD signs first licence deal with HD Hyundai Marine Engine to expand Korean production  

Mid-bore engine portfolio gains new production route into Korea's bulk carrier and tanker newbuild markets.
ONE Symphony naming ceremony. Ocean Network Express names ammonia- and methanol-ready newbuild ONE Symphony  

Vessel features conventional diesel main engine, with concept designs approved for possible future conversion to methanol or ammonia.
Sing Fuels logo. Sing Fuels seeks Asia-based supply trader to bolster bunker procurement team  

Singapore bunkering firm is recruiting a supply trader to manage marine fuel purchasing across Asia.
MOL joint naming ceremony. MOL names world's first ammonia-fuelled Capesize bulk carriers  

Naming of Ruri Mirai, Ruri Sekai and Ruri Hikari signals ammonia's arrival as a marine fuel for large bulk carriers.
Washington State Hybrid-Electric 160-Auto Ferry vessel render. ABB wins Washington State Ferries' third hybrid-electric vessel order  

ABB extends its role in the US ferry operator's electrification programme, which targets emission-free operations by 2050.
Aurora Borealis vessel. Kawasaki Heavy Industries delivers LPG-fuelled carrier Aurora Borealis  

Ship could also be modified in future to allow for ammonia-fuelled operation.
Rendering of Estonia's first shore-charged electric ferry. Estonian State Fleet's shore-charged electric ferry completes model testing in Germany  

Hull and propulsion tests show the vessel's energy consumption remains within contracted limits with room to spare.
Kypros Island vessel. Tsuneishi delivers first methanol dual-fuel Kamsarmax bulk carrier from Chinese yard  

Shipbuilder claims progress towards establishing a mass-production system for vessels designed to reduce environmental impact.

↑  Back to Top


 Recommended