Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Thu 24 Jul 2008, 10:38 GMT

Singapore prices continue to fall


Bunker prices in Singapore tumble for the second day after $4 drop in crude.

Bunker prices continued to tumble in Singapore today following a fall in crude oil prices of approximately US$4 per barrel yesterday.

According to Bunker Index data, the price of 380-centistoke (cst) at the world's leading bunker port fell to $666 per tonne today, a drop of $21 compared to yesterday's indication price. It follows a particularly significant day's trading yesterday where the 380-cst price nosedived by $32 per tonne from $719 the previous day.

Meanwhile, 180-cst prices were also lower today at $691 per tonne, $20 down on yesterday's price of $711 per tonne. Bunker Index data published yesterday showed that the price of 180-cst had fallen by $32 from $743 per tonne on Tuesday.

Marine gasoil (MGO) prices tumbled for the third day in a row today to $1167 per tonne, down $30 on yesterday's price. Over the last three day's of trading, the price of MGO has now plummeted a total of $77. Yesterday's indication price was $30 lower than the previous day's price of $1227 per tonne, whilst on Tuesday the price of MGO also fell by $17.

Other ports also saw prices plunge yesterday. In Port Klang, the price of 380-cst fell by $20 to $705 per tonne, whilst 180-cst and MGO price levels also fell by $20 and $30 respectively to $730 per tonne and $1260 per tonne.

Rotterdam and Antwerp also recorded a drop of over $30 for almost all grades of high sulphur and low sulphur fuels yesterday. The high sulphur 380-cst price in Rotterdam slid by $37 to $640 per tonne, whilst in Antwerp the same grade of fuel tumbled by $30 to $645 per tonne.

In trading today, WTI crude for September delivery on the New York Mercantile Exchange (NYMEX) was pegged at $124.05 per barrel at 09:53 GMT, down $0.39 on yesterday's settlement price. London's Brent Crude was priced at $125.08 per barrel, $0.19 down on the price at the close of trading yesterday.

MGO   Singapore  Singapore (SG) 
Truck-to-ship (TTS) LNG bunkering at Port of Palermo. Molgas completes first LNG bunkering operation at Palermo  

Spanish energy firm carries out maiden LNG delivery at Sicilian port.
Maersk 5,900-teu vessel. Tsuneishi China delivers third methanol dual-fuel boxship in series  

Zhoushan shipbuilder hands over another 5,900-teu Maersk container vessel.
Type approval test (TAT) for ME-LGIA ammonia engine. Everllence completes type approval test for ammonia engine ahead of sea trials  

Eight classification societies oversee testing of ME-LGIA ammonia engine at Copenhagen research centre.
Zhong Ran 23 vessel. CPN bunker barge becomes first vessel listed under Hong Kong’s new quality bunkering scheme  

Zhong Ran 23 achieves listing under the Marine Department’s voluntary mass flow metering initiative.
Peder Moller, Bunker Holding. Bunker Holding posts $73m pre-tax profit amid geopolitical headwinds and board overhaul  

Marine fuels exceeds its own expectations despite 4% revenue decline.
Oilmar Board of Directors graphic. Oilmar formalises governance structure with establishment of board of directors  

Dubai-based marine fuels trader Oilmar appoints three-member board.
Henrik Andersen, Vestas Wind Systems A/S. Vestas Wind Systems CEO appointed vice chair of Bunker Holding  

Henrik Andersen joins the board of the marine fuels group with more than two decades of international business experience.
Tina Revsbech, Maersk Tankers. Maersk Tankers CEO Tina Revsbech joins Bunker Holding board  

Danish USTC Group appoints shipping veteran to subsidiary’s board of directors.
Yampu vessel. CSL delivers world’s first battery-powered self-unloading bulk carrier  

MV Yampu will transport limestone for Adbri in Australia, with full electric operation targeted by 2031.
Illustration of hydrogen fuel cell system. NYK, Yanmar and Eneos to install hydrogen fuel cell system on new Tokyo dining cruise vessel  

Three Japanese companies are collaborating to bring hydrogen propulsion to a dining cruise ship due to enter service in 2027.

↑  Back to Top


 Recommended