Sign up
Log in Sign up
Fri 25 Jul 2008, 10:55 GMT

Singapore 380cst drops $41 in a week


Despite firmer market today, 380cst has now fallen by $83 since July 15th.

Bunker prices in Singapore, the world's leading port for the sale of marine fuels, ended the week substantially lower than on Monday following significant drops on Wednesday and Thursday.

The price of 380-centistoke (cst) - the port's largest-selling product - was pegged at $677 per tonne today according to Bunker Index price data, $11 higher than yesterday and $41 lower than at the start of the week when the product was being traded at $718 per tonne.

In the space of only nine working days, the price of 380-cst has now fallen by $83 since July 15th, when Singapore reached a record price of $760 per tonne.

Singapore's third best selling product, 180-cst, ended the week at $699 per tonne, $44 lower than at the start of business on Monday and $8 higher than yesterday's price of $691 per tonne. The product recorded significant decreases in price during the week, dropping by $32 and $20 on Wednesday and Thursday respectively.

Meanwhile, the price of marine gasoil (MGO) on Friday was pegged at $1168 per tonne today, up $1 on yesterday's price and $76 less than at the beginning of the week. In the space of seven days, the price of MGO has now dropped by 5 percent compared to last Friday when suppliers were quoting $1230 per tonne according to Bunker Index price data.

At the beginning of the week a number of suppliers said that buying interest had been relatively quiet, with demand picking up later in the week as bunker prices began to drop as a consequence of the bearish outlook in the crude oil markets.

Availability of 180-cst continued to be tight in Singapore this week with a number of market sources stating that they were not able to offer a quote to customers for this product.

Meanwhile, on the New York Mercantile Exchange (NYMEX), WTI crude oil for delivery in September was being traded at $125.96 per barrel at 09:17 GMT, $0.47 higher than Thursday's settlement price. London Brent Crude on the Intercontinental Exchange (ICE) was priced at $126.9 per barrel, up $0.46 on the close of business yesterday.

MGO   Singapore  Singapore (SG) 
Core Power, Athlos Energy, Deon Policy Institute and ABS logos. Greece floating nuclear study finds no fundamental barriers to implementation  

A PESTLE assessment of floating nuclear power plants in Greece identifies framework gaps, not feasibility barriers.
Northern Pathliner alongside Bergen LNG vessel. Molgas completes LNG cool-down and bunkering for Northern Pathliner at Northern Lights terminal in Norway  

Operation carried out at Øygarden facility, with K Line and Integr8 Fuels in the supply chain.
Rendering of a G2 Ocean OHGC vessel. G2 Ocean expands fleet with six future-fuel ready gantry crane vessels  

Open hatch specialist adds vessels and jet sail technology as part of a broad fleet renewal programme.
CMA CGM Adventure vessel at Port of Mombasa. LNG-powered CMA CGM Adventure makes first call at the Port of Mombasa  

Kenya Ports Authority receives its first large LNG-fuelled container vessel.
Liam Blackmore, Lloyd's Register. Maritime trio shapes IMO safety guidelines for ammonia as marine fuel  

Real-world operational experience feeds directly into new IMO ammonia fuel safety framework.
Repsol industrial complex in Puertollano. Repsol starts large-scale renewable fuel production at second Iberian plant  

Spanish energy company's Puertollano facility adds 200,000 tonnes per year of renewable diesel capacity.
SD Aisemaht vessel. World's first dual-fuel methanol escort tug receives full class certification  

ABS grants certification to SD Aisemaht, built by Sanmar Shipyards for Canada's Trans Mountain Expansion Project.
CMB.Tech and TFG Marine signing. CMB.Tech raises TFG Marine stake to 15% and consolidates bunker procurement through joint venture  

CMB.Tech increases its equity stake in TFG Marine and commits its entire fleet’s bunker requirements to the joint venture.
XFuel demo plant in Mallorca, Spain. XFuel secures EUR 4.1m Catalonia grant for waste-derived marine fuel plant  

Spanish start-up wins funding to build a modular facility converting waste oils into low-carbon marine gas oil.
Liquefied biogas facility at Port of Gothenburg render. Construction begins on liquefied biogas facility at Port of Gothenburg  

Nordion Energi's new plant aims to open up Swedish biogas supply to shipping and other sectors beyond the gas grid.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG/LBM Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane/e-NG Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind power



 Recommended