Singapore Market Commentary (with evening update)

Wed 30 Dec 2009, 05:58 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed firm by about USD8.00/MT with BP taking all the four cargoes deals reported; Gasoil cargo surged by almost a dollar a barrel higher, supported by three deals done. Delivered prices were quoted more expensive too, with some prompt deliveries floating on the market.

WTI Access trading seems to be steady for sometime since this morning. Meantime, our bunker indicaion is revised further upward again for all grades.

Morning Commentary

NYMEX Crude price closed marginally higher last night and WTI Access trading is showing flat with little change this morning.

Fueloil paper opened firmer by USD1.50/MT while Gasoil paper was valued by one dollar per barrel more as compared to last closing. For this, only our Distillates indication is revised upward with the remaining indices remain unchanged.

BP Singapore Singapore (SG)


		Fuel quality management for vessels in extended idle: Arabian Gulf, Gulf of Oman and adjacent anchorages \| Rahul Choudhuri, VPS Managing fuel quality deterioration following the closure of the Strait of Hormuz.

		Agastya Green Fuels signs 250,000 t/yr e-methanol offtake deal with Sri Lanka’s SAR Group Indian producer and Sri Lankan maritime firm agree long-term green methanol supply partnership.

		Bunker Holding seeks risk specialist for Copenhagen internal pricing desk Danish bunker group is expanding its internal pricing team to meet growing demand for fixed-price solutions.

		Biofuel demand could surge 70% by 2030 as food price fears mount T&E warns governments risk trading an oil crisis for a food crisis as biofuel targets strain vegetable oil and fertiliser markets.

		Shore power shifts from voluntary measure to compliance requirement, DNV white paper finds Shore power is moving from an optional emissions tool to a regulatory obligation for shipowners in key trades.

		Baker Hughes’ NovaLT 16 gas turbine receives RINA type approval for marine propulsion on hydrogen and natural gas Certification covers operation on natural gas and blends up to 100% hydrogen for marine use.

		ABS grants approval in principle for nuclear reactor integration in cargo vessel design ABS, HD KSOE, Capital Maritime Group and MIT have received approval in principle for a nuclear-powered cargo vessel propulsion system.

		Green e-fuel export corridor between Brazil and Belgium advances to feasibility stage A consortium has been formed to develop a green e-fuel corridor linking Porto do Açu to Antwerp-Bruges.

		Sallaum Lines takes delivery of two LNG-fuelled PCTCs in simultaneous handover ceremony RoRo carrier receives MV Ocean Express and MV Ocean Navigator from Chinese shipyard.

		Agastya Group signs MoU with Andhra Pradesh government for 1 MTPA green methanol hub at Mulapeta Port India-based Agastya Group plans a $6.5bn green methanol export facility on the country's east coast.