Singapore Market Commentary (with evening update)

Mon 5 Jul 2010, 06:44 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment ended mixed. Fueloil ended just firmer, possibly by USD1.00-1.50/MT, with a deal done. Gasoil cargo fell instead by around USD0.60/BBL and no physical deal reported.

WTI Access trading is still maintaining at is positive surge, though it is holiday on the 5th July in New York. Meantime, our bunker indication remains unchanged, except the MDO/MGO, which is revised downward slightly, amid below average demand.

Morning Commentary

NYMEX Crude price closed weaker last Friday, settling eventually at USD72.14 a barrel.

In Singapore, Papers opened slightly soft today. Fueloil paper was valued at almost USD3.00/MT lower while Gasoil paper was pegged with a slide of USD0.65/BBL. However, WTI Access trading is showing positive gains this morning. Meantime, our bunker indication shall remain broadly unchanged for all grades.

MGO Singapore Singapore (SG)


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		FortisBC completes 10,000th LNG bunkering operation for marine vessels Canadian utility reaches refuelling milestone as West Coast LNG marine fuel demand grows.

		Bureau Veritas approves dual-fuel tanker designs for Australian coastal operations SeaTech Solutions receives approval in principle for 80 m vessels designed to carry methanol and biofuels.

		Japanese shipping firms secure government funding for Singapore ammonia bunkering trial Sumitomo, K Line and NYK to demonstrate ship-to-ship ammonia fuel supply operations.

		PIL and PSA launch Singapore’s first joint land-sea green shipping service DNV-verified service allows shippers to reduce Scope 3 emissions through lower-carbon fuel allocation.

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		Navios Partners takes delivery of dual-fuel-ready Aframax tanker Nave Amaryllis is equipped with LNG and methanol readiness alongside shore power capability.

		IBIA backs IMO as global shipping regulator ahead of MEPC 84 Marine fuel industry body supports joint shipping statement emphasising multi-stakeholder approach to decarbonisation.

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