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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) 
Federal Beaufort vessel. Verra publishes new carbon methodology for alternative fuels in shipping  

VM0053 framework offers an accounting structure for emissions reductions in maritime transport.
NYK LNG-powered vessel connected to shore power. ICO launches Belgium’s first commercial shore power facility for ro-ro vessels at Zeebrugge  

NYK Group subsidiary connects pure car and truck carrier to green shore power at Belgian port.
Ocean Express ship-to-ship (STS) LNG bunkering operation. Dan-Bunkering completes LNG supply in China for Sallaum Lines’ newbuild PCTC  

Bunker firm delivers approximately 1,400 tonnes of LNG to Sallaum Lines’ newbuild car carrier in China.
Seaspan Lions (STS) LNG bunkering operation. Low-GHG methane could keep LNG-capable fleet compliant as regulations tighten, DNV paper argues  

Biomethane and e-methane offer a compliance pathway for LNG-capable ships, says DNV.
HaiSea Kermode and Valencia Knutsen vessel at sea. HaiSea's fleet of electric and dual-fuel tugboats completes 100th LNG carrier escort into Kitimat  

The Haisla Nation and Seaspan joint venture marks one year of LNG carrier escort operations in British Columbia.
Mount Vision naming ceremony. Naming ceremony held for LNG dual-fuel VLCC Mount Vision  

Crude oil tanker named in ceremony held in China.
Green Pearl and Cielo Ace ship-to-ship (STS) bio-LNG bunkering operation. MOL signs bio-LNG supply deals for car carriers across Northern Europe and Mediterranean  

Japanese shipping group expands bio-LNG bunkering to Spanish ports as part of its net-zero strategy.
Dan-Bunkering logo. Dan-Bunkering launches two-year trainee programme for aspiring marine fuel traders  

Bunker firm is recruiting trainees for an August 2026 start across its European offices.
Tower Bridge, London. Chevron hiring London-based marine fuels marketer with renewable fuels remit  

Applications open until 30 June for role involving the marketing of physical bunker fuels with a focus on Europe.
Burando Energies logo. Burando Energies seeks operator to support Rotterdam bunkering activities  

New hire will be responsible for planning, coordinating and monitoring operational activities across the firm's bunkering business.




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