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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: 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.

NYK Line and BHP Group sign MoU. NYK Line and BHP renew partnership for dry bulk decarbonisation  

Japanese shipping firm and Australian resources company extend collaboration on alternative fuels and vessel safety.
Kota Orkid vessel during its maiden call at Singapore. PIL's LNG-fuelled Kota Orkid makes maiden call at Singapore  

Pacific International Lines deploys 8,200 TEU vessel on South West Africa route.
WinGD and Panasia Frame Agreement Signing. WinGD and Panasia partner on emissions upgrades for dual-fuel LNG engines  

Swiss engine designer signs frame agreement with Korean firm to retrofit X-DF engines.
Baleària’s Cap de Barbaria vessel. Baleària to trial methanol-to-hydrogen system on electric ferry  

Spanish operator to test e-methanol reforming technology on Ibiza-Formentera route.
HMM Clover Naming Ceremony. HMM names second methanol-powered containership in 9,000 TEU series  

South Korean carrier adds HMM Clover to fleet of alternative fuel vessels.
Markus Virtasalo, ABB. Covering the distance to shipping’s nuclear opportunities | ABB  

The number of stakeholders engaging with nuclear ship propulsion in 2025 indicates that the maritime industry is eager to expand its options on net zero emissions.
Christian Vandvig Finnerup, Dan-Bunkering. Dan-Bunkering appoints Christian Vandvig Finnerup as US managing director  

Finnerup transitions from Singapore role to lead American operations.
Hai Gang Wei Lai vessel. SIPG orders Wärtsilä systems for new LNG bunker vessel  

Shanghai International Port Group orders integrated cargo handling and fuel systems from Wärtsilä.
Chris Seide, Integr8 Fuels and William Kanavan, Pentarch Offshore Solutions. Integr8 Fuels signs MOU with Pentarch for bunker services at Port of Edrom  

Integr8 Fuels and Pentarch Offshore Solutions have signed an agreement to develop bunker fuel services.
Eagle Vellore vessel. MISC orders two LNG dual-fuel Suezmax tankers as part of fleet renewal  

Malaysian shipowner expands dual-fuel fleet with newbuilds backed by long-term charters.

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