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Tue 13 Mar 2018, 12:27 GMT

Oil dropped slightly yesterday, but continues to trade in tight range


By A/S Global Risk Management.

Michael Poulson, Global Risk Management.
Image credit: Global Risk Management
Tonight, the weekly oil stocks data from the American Petroleum Institute (API) will be followed closely for hints of U.S. oil inventory growth/decrease ahead of another inventory report from the Energy Information Administration (EIA) on Wednesday.

The EIA yesterday in its monthly productivity report said that it expects U.S. crude oil production to continue the increase next month, climbing by 131,000 barrels per day for the 7 largest oil plays.

In Libya, a strike at an oil port that exports crude from the huge El Sharara oil field delays loading. Allegedly, negotiations for a solution are ongoing. The strike comes after two large oil fields went offline earlier this month due to pipeline disruptions. Oil production in the country remains fragile.

Turning to economic data, today sees U.S. inflation numbers, the commencement of EU Finance Ministers meeting and overnight, Chinese Industrial Production data and Japan Monetary Policy Meeting Minutes.

Container ship at harbour. Skuld warns of unusual chemical compounds in Southeast Asian marine fuels  

Marine insurer reports fuels meeting ISO 8217 standards but containing high levels of hydrocarbon compounds.
Arsenio Dominguez, IMO. IMO chief urges progress on net-zero framework amid Hormuz crisis  

Arsenio Dominguez calls for constructive dialogue as MEPC 84 tackles greenhouse gas measures and ballast water regulations.
Monjasa Shaker vessel. Monjasa reflags UAE-based tankers to Emirates registry  

Marine fuels supplier transitions first of three vessels from Liberian to UAE flag.
Ammonia bunkering at Port of Ulsan. Lotte Fine Chemical completes world’s first commercial ammonia bunkering at Ulsan  

South Korean chemical company claims to have established a complete green ammonia value chain.
London skyline. Propeller Fuels seeks bunker trader for London office  

Marine fuel supplier advertises for trader to manage procurement, sales and client relationships.
Windward Hamburg vessel. Fincantieri’s VARD launches first of four offshore wind vessels for Windward Offshore  

VARD 4 19 design vessel features battery hybrid propulsion and green methanol preparation.
Singapore Maritime Week panel session. Singapore industry leaders call for regulatory clarity on maritime energy transition  

SSA councillors highlight need for government support and clear policies to enable alternative fuel adoption.
Aerial view of container vessel at sea. Seaspan and Technolog unveil LNG feeder design with four-week ammonia conversion pathway  

Lloyd’s Register grants approval for a 3,370 TEU vessel concept designed for swift transition to zero-carbon fuel.
David Foo, MPA. Singapore’s MPA backs LNG as part of multi-fuel strategy for shipping decarbonisation  

Authority emphasises regulatory frameworks and workforce development as sector navigates geopolitical uncertainty and energy transition.
ABS and PIL sign MoU. ABS and PIL partner on book-and-claim emissions verification  

Classification society to verify fuel consumption and emissions data for shipping line’s alternative fuel claims.

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