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Mon 13 Jul 2009, 05:24 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed steady to marginally higher, supported by two deals traded on screen; Gasoil cargo concluded softer by USD0.60/BBL, and with a physical deal changing hands. Delivered prices were quoted almost on a par with last Friday, except Distillates which is offering lower generally.

Ex-wharf loading is still tight and our earliest delivery is looking 17th-18th/Jul onwards. WTI Access trading is showing weak now. Meantime, our bunker indication is revised lower only for the MDO/MGO, amid near average demand so far.

Morning Commentary

NYMEX Crude closed softer on closing last Friday to settle at USD59.89 a barrel and WTI Access trading is showing slightly weak this morning.

Similarly, Fueloil paper was pegged lower by USD2.25/MT today yet Gasoil paper was valued steady to marginally higher. Ex-wharf loading still maintaining some tightness and we shall keep an update this afternoon. Meantime, our bunker indication remains broadly unchanged for all grades.

MGO   Singapore  Singapore (SG) 
Jacob Norgaard, Bunker Holding. Bunker Holding appoints Global Risk Management's Jacob Nørgaard as CFO  

Michael Krabbe steps down after eight years with the company.
Icon of the Seas ship-to-ship (STS) bunkering operation. Avenir LNG vessel completes first LNG bunker delivery to Icon of the Seas in Honduras  

Avenir Advantage delivers LNG to Royal Caribbean cruise ship in operation involving Axpo.
Andrea Lazzaro, WinGD. Ethanol gains traction as a marine fuel, WinGD says, citing Shandong and Maersk  

Engine maker WinGD says ethanol is ready for maritime use as early orders and IMO recognition build momentum.
Lumi Aurora vessel. IINO Lines takes delivery of the world’s only ice-class VLGC at Hanwha Ocean’s Okpo yard  

LPG dual-fuel vessel is also capable of carrying ammonia as cargo.
Clean Arctic Alliance logo. Clean Arctic Alliance warns of black carbon threat as container ships eye Northern Sea Route  

Environmental coalition urges IMO polar fuel rules as Arctic shipping activity raises climate concerns.
Steel-cutting ceremony of vessel with builder's hull no. CHB2052. Construction begins on 21,700-TEU LNG dual-fuel boxship for MSC  

366-metre vessel described as the largest container ship currently under construction in Zhejiang Province.
CIMC SOE building. CIMC SOE signs order with European shipowner for 6,000-cbm LNG bunker vessel  

Vessel set to provide LNG bunkering services at European ports once deployed.
Flex Commodities office in Dubai. Flex Commodities moves Dubai head office to Jumeirah Lakes Towers  

UAE-based firm relocates to waterfront community popular amongst bunker companies.
Echandia Core marine battery system. Echandia: Batteries offer fuel savings by optimising generator loads on large vessels  

Marine batteries could cut auxiliary generator fuel consumption by up to 15%, according to technology firm.
Palermo LNG facility. Amazónica LNG joins SEA-LNG, extending the coalition’s reach into Latin America  

Colombian LNG terminal operator becomes first South American member of the multi-sector industry group.




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