Singapore Market Commentary (with evening update)

Tue 3 Nov 2009, 06:14 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes trading concluded firm this afternoon. Fueloil cargo went up USD6.00/MT while Gasoil cargo surged by close to USD1.00/BBL. No deal was reported on screen upon MOC. Delivered products were being quoted the same as cargoes sentiment, though WTI Access trading is showing some weakness. Meantime, our bunker indication is revised upward for all grades, amid average demand.

Morning Commentary

NYMEX Crude price has been like a roller-coaster effect recently. It rebounded back last night to settle at USD78.13 a barrel. As a result, both Fueloil and Gasoil papers were valued firmer by about USD3.50/MT and USD1.50/BBL respectively.

WTI Access trading is showing marginal gain this morning. Meantime, our bunker indication remains unchanged, except the MDO/MGO which were adjusted upward

MGO Singapore Singapore (SG)


		Portsmouth International Port makes first commercial shore power connection with cruise ship Virgin Voyages’ Valiant Lady plugs into Portsmouth International Port’s shore power system, with two ships connected simultaneously.

		EmissionLink calls for fairer EU ETS expansion and greater reinvestment in maritime decarbonisation Emissions compliance specialist warns that broader coverage alone will not deliver practical decarbonisation.

		Peninsula and Evos sign MoU to develop biofuel storage at Algeciras terminal Partnership aims to develop up to 60,000 cbm of dedicated biofuel storage capacity at the Strait of Gibraltar.

		Odfjell names chemical tanker with wind-assisted propulsion at Japanese yard 40,000-dwt stainless-steel supersegregator is claimed to improve energy efficiency by up to 50%.

		Towngas calls for Hong Kong 'Energy Office' and green certification hub in five-year plan proposals Hong Kong’s gas utility submits eight-point plan to shape the city’s energy future to 2030.

		Malik Supply seeks bunker trader for Dubai office expansion Danish firm looking for experienced professionals with a minimum of two years in bunker trading.

		NYK joint venture names first China-built dual-fuel LNG carrier in six-vessel CNOOC series 174,000-cbm vessel uses both fuel oil and boil-off gas as fuel.

		Anew Climate joins SEA-LNG coalition to advance bio-LNG adoption in the maritime sector North American low-carbon fuels company brings liquefied biomethane supply to the coalition.

		Wind propulsion breaks new ground on French Polynesian multipurpose vessel Bound4blue installs its eSAIL on what is believed to be the world’s first multipurpose vessel fitted with wind propulsion.

		Peninsula outlines case for bio-LNG as near-term emissions pathway for LNG-fuelled vessels Company says bio-LNG offers operators a practical route to emissions cuts using existing infrastructure.