Singapore Market Commentary (with evening update)

Wed 7 Oct 2009, 06:02 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed firm by several dollars and Gasoil cargo went up a dollar/BBL+ along with bullish paper value. Our Bunker indication was revised higher for Fueloil and remains unchanged MDO/MGO.

Morning Commentary

NYMEX Crude continuously closed firm last night and ACCESS is now showing further gain. In line with bullish crude sentiment, both Fueloil and Gasoil paper opened nominally higher by USD 1.25/MT and USD 1.10/BBL respectively this morning. Our bunker indication was revised upward for all grades.

MGO Singapore Singapore (SG)


		Rotterdam study maps pathway for nuclear-powered commercial ship port calls A joint study by Lloyd's Register, the Port of Rotterdam, Core Power and Maersk examines the feasibility of nuclear vessel port calls.

		Kinkai Yusen conducts first biofuel demonstration on domestic ro-ro vessel at Hakata Port Japanese shipping company to trial B24 biofuel blend aboard the vessel Nanotsu on 16 June.

		Norwegian Energy Trading renews ISCC certification for biofuel trading Norwegian bunker trader says renewal reflects growing biofuel volumes and commitment to verifiable sustainability standards.

		Jiangnan delivers VLAC with LPG dual-fuel main engine Vessel is claimed to be the world’s first 93,000 cbm very large ammonia carrier.

		BIMCO adopts biofuel clause for time charter parties The shipping body has introduced a new contractual clause to govern the use of biofuels under time charter agreements.

		UK research vessel Prince Madog wins LR certification for hydrogen fuel cell retrofit Lloyd’s Register certifies what is claimed to be the first sea-going, manned hydrogen retrofit of its kind.

		World Fuel seeks marine lube operations and sales executive in Greece US firm is recruiting for a commercial role focused on marine lubricants, based out of its Glyfada office.

		European Shipowners calls for fuel supplier mandates and ETS revenue investment ahead of policy revision Industry body urges EU policymakers to redirect carbon revenues into clean marine fuel production.

		Gasum secures LNG terminal capacity at Klaipėda through 2040 Nordic energy company locks in long-term LNG supply access to serve northwestern European markets.

		Chimbusco Pan Nation extends B100 biodiesel bunkering to oil tankers as quarterly volumes triple Hong Kong bunker supplier CPN says Q2 B100 deliveries have exceeded Q1 totals by more than 300%.