Singapore Market Commentary (with evening update)

Thu 25 Feb 2010, 08:48 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Once firmed Fueloil paper lost its steam this afternoon. Fueloil cargo too closed almost level or even dipped marginally. On the other hand, Gasoil cargo closed firm by USD 0.60-0.70/BBL. Our Bunker indication was revised lower for Fueloil and remains broadly unchanged for MGO.

Morning Commentary

NYMEX Crude price rebounded last night to settle at USD80.00 a barrel. Once again, it pushed up all Paper values this morning. Fueloil paper opened almost USD6.00/MT higher while Gasoil paper was pegged firm by USD1.15/BBL today.

Without doubt, bunker market will likely be selling more expensive this afternoon if Cargoes trading can further support this trend. Yet, WTI Access trading is showing flat moment ago while writing this update. Meantime, our bunker indication is revised upward for all grades.

MGO Singapore Singapore (SG)


		Lloyd’s Register delivers fleet-wide energy transition roadmap for TMS Tankers LR Advisory maps vessel-level compliance risk and decarbonisation pathways across the Greek owner’s tanker fleet.

		GCMD shares biofuel assurance and green finance insights at Hong Kong shipping decarbonisation forum The Global Centre for Maritime Decarbonisation presented pilot findings on biofuels and energy efficiency financing.

		Maersk conducts large-scale ethanol bunkering trial on Laura Maersk in Rotterdam A.P. Moller – Maersk has conducted a barge-delivered ethanol bunkering operation as part of ongoing fuel trials.

		MOL Techno-Trade completes first LNG bunkering for international cruise ship in Hokkaido Truck-to-ship LNG operation at Hakodate marks first such supply to an international cruise vessel in Hokkaido.

		Acta Marine takes delivery of methanol dual-fuel CSOV Acta Gemini for RWE wind farm charter The vessel will support operations at the Sofia Offshore Wind Farm at Dogger Bank.

		Malik Supply expands Danish team with bunker trader and finance hire Danish bunker supplier Malik Supply adds two new staff across its Fredericia and Aalborg offices.

		HJSC wins AiP for 10,000-teu biofuel-powered container ship design South Korean shipbuilder HJ Shipbuilding & Construction receives classification society approval for its biofuel vessel design at Posidonia.

		Capital Clean Energy Carriers takes delivery of LNG carrier and dual-fuel gas carrier, secures five new charters Athens-based CCEC expands its fleet and pushes contracted revenue backlog to $3.1bn.

		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.