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Thu 18 Jun 2009, 05:14 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo surged sharply by about USD8.00/MT supported by just a deal traded, notably many bidders and offers were seen on screen. Gasoil cargo closed bullish by about USD1.80/BBL.

Delivered products were selling much higher this afternoon for all grades, even though WTI Crude is not showing much hike so far. Meantime, our bunker indication is revised upward for all indices, amid average demand till now.

Morning Commentary

NYMEX Light Sweet Crude Oil price closed higher last night to settle at USD71.03 a barrel; WTI Access trading is showing quite steady with not so much fluctuation this morning.

Fueloil paper opened almost flat with marginal hike of just fifty US cents per metric ton. On the other hand, Gasoil paper opened much strong today, surged by USD1.40/BBL. For the time being, only our Distillates indices were revised upward and maintain the same for the rest of the grades.

Singapore  Singapore (SG) 
RINA employee on board vessel. RINA unveils Mermaid propulsion concept to navigate uncertain decarbonisation landscape  

Fuel-agnostic design claims savings of more than 1,000 tonnes per year in some applications.
Adinkerke and Aalter naming ceremony. Exmar names third and fourth dual-fuel ammonia-powered vessels  

Midsize gas carriers Adinkerke and Aalter named at formal ceremony.
Professor Lynn Loo, GCMD. GCMD outlines practical approach to quantity assurance in marine biofuel supply chains  

New report addresses verification of both total fuel volume and renewable content in biofuel transactions.
Steel-cutting ceremony of London Express class vessel. Hapag-Lloyd cuts steel for first vessel of new London Express class  

16,800-TEU LNG dual-fuel vessel is first of 12 newbuildings in the class.
Vessels at sea. DNV report warns regulatory uncertainty complicates fleet investment decisions  

CEO urges greater clarity to provide the confidence needed for long-term investment.
Blue Whale NxtGen Energy battery system. Corvus Energy launches LFP battery system developed with BYD Energy Storage  

Blue Whale NxtGen Power targets tugs, ferries and workboats with high power demand.
Welcome ceremony of Yampu vessel. World’s first battery-powered self-unloading bulk carrier enters service in Australia  

MV Yampu connects South Australia’s limestone trade with a battery-electric propulsion system.
Skipanes vessel. E-methanol-ready ro-ro vessel delivered to Smyril Line  

190-metre vessel is built for year-round North Atlantic operations and designed for future e-methanol conversion.
Belgium flag. Sunoil Biodiesel secures approval to supply biofuels in Belgium  

Dutch biofuel supplier expands its European footprint with Belgian market entry.
Tacoma Maersk naming ceremony. Maersk takes delivery of dual-fuel methanol-capable Tacoma Maersk in China  

9,000-TEU vessel is one of six mid-sized dual-fuel ships joining Maersk's fleet.




   Fuels & Propulsion

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



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