Wilhelmsen Marine Fuels AS is Norway’s leading bunker-broking company. We have affiliates in London and Singapore.

About us

Wilhelmsen Marine Fuels is the leading bunker broking company in Norway, and has offices in Singapore and the UK.

The company serves a wide variety of international ship-operators, including world wide liner, tramp and tanker services, offshore and coastal transport.

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Morning update and price indications

April 22nd, 2014    

 

 

·         Libyan output still only 220 000 bpd
Despite hopes of re-opening of the Eastern oil ports, Libyan oil production is still only 220 000 bpd according to the state-run National Oil Corp. The 350 000 bpd El Sharara field remains shut as does the Wafa condensate field.

·         No output at Kashagan in 2014
The giant Kashagan oil field, dubbed the world’s moste expensive energy project ever, with cost estimates of up to 100 bn USD will not produce any oil in 2014 according to Total, the operator. The field was discovered in 2000 and was expected to produce 370 000 bpd by now. It started up for one month in late 2013 only to shut down due to a gas leak.

·         US oil inventories seen up
According to a survey by Reuters, the US DoE report tomorrow is expected to show a build in crude oil inventories of 2.7mb, a draw in gasoline inventories of 1.6 mb and unchanged distillate inventories.

YESTERDAY’S MARKET
Crude prices ended roughly unchanged yesterday in thin volume due to Easter. Support came from continued instability in Ukraine, with three separatists killed at a checkpoint in Eastern Ukraine. The US and EU are considering more sanctions if Russia does not persuade the separatists that have occupied public buildings to leave.

 Please note that the information provided hereby merely contains observations and forward-looking expectations which are subject to risk and uncertainties related to e.g. financial and market conditions in relevant markets and may otherwise be subject to change. The purpose of this information is to share insight, which has been reported through common sources or our network. The Wilh. Wilhelmsen Holding ASA group of companies undertakes no liability and makes no representation or warranty for the information and expectations given in this information or for the consequences of any actions taken on the basis of the information provided.

Contacts

Wilhelmsen Marine Fuels AS

Norway, Oslo

Phone:(+47) 67 58 42 66
E-mail:
wmf.oslo@wilhelmsen.com

Singapore

Phone:(+65) 637 95 167
E-mail:
wmf.singapore@wilhelmsen.com

United Kingdom, Dartford, Kent

Phone:+ 44 (0)1322-282930
E-mail:
wmf.london@wilhelmsen.com