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Tue 3 Aug 2010, 05:39 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes trading ended firm today, especially the Distillates. Fueloil cargo surged higher once again today by about another USD7.00/MT, with two physical deals traded. Gasoil cargo concluded bullish by around USD2.00/BBL. Similarly, two lots of cargo were reported being sold. br>
Without doubt, delivered prices were offered more expensive for all grades, along with rapid rise of Light Sweet Crude Oil futures. Meantime, our bunker indication is revised upward once again only for the MDO/MGO, amid average demand.

Morning Commentary

NYMEX Crude price surged sharply last night to settle at USD81.34 a barrel. Thus, it pushed up the Papers market substantially today. Fueloil paper opened much firmer by USD13.00/MT while Gasoil paper was talked bullish by USD2.15/BBL.

This will in turn stimulate bunker market to sell more expensively later in the day. WTI Access trading is showing moderately steady, though marginal gains still. Meanwhile, our bunker indication is revised upward for all grades.

MGO   Singapore  Singapore (SG) 
Areion vessel. Dorian LPG takes delivery of dual-fuel VLGC capable of carrying ammonia  

The 93,000-cbm Areion can run on LPG or fuel oil and transport ammonia cargoes.
FSRU Toscana alongside Green Zeebrugge vessel. RINA awards ISCC EU certification to OLT Offshore LNG Toscana for bio-LNG supply  

Certification enables bio-LNG use in the EU as a renewable fuel under RED II and RED III directives.
World Shipping Council at IMO meeting. WSC calls for safe maritime corridor as 20,000 seafarers remain trapped in the Persian Gulf  

Industry body urges IMO member states to establish safe passage and supply access.
Graphic promoting Auramarine webinar titled 'Sustainable Fueling Part 3: Ammonia - next alternative fuel in marine'. Auramarine to host webinar on ammonia as marine fuel in April  

Finnish firm will explore ammonia’s role in maritime decarbonisation at its third spring webinar.
Front cover of study by WinGD and Envision Energy titled 'Renewable Fuel Economics: An OPEX illustration based on current costs'. Green ammonia could reach cost parity with VLSFO and LNG by 2050, study finds  

WinGD and Envision Energy study projects green ammonia operational costs competitive with conventional marine fuels.
Elenger Marine's LNG bunkering vessel Optimus alongside Brittany Ferries’ Saint-Malo. Bureau Veritas verifies methane emissions on Brittany Ferries’ LNG vessels  

Verification enables ferry operator to report measured methane slip instead of regulatory default values.
Map showing existing and planned Emission Control Areas (ECAs). Alliance calls for urgent black carbon action as new Arctic emission control areas take effect  

Canadian Arctic and Norwegian Sea ECAs now in force, with compliance deadline set for March 2027.
Artistic impression of battery-electric ferry for operation on Perth’s Swan River. Lloyd’s Register to class Western Australia’s first electric ferry fleet  

Echo Marine Group partners with Lloyd’s Register on five battery-electric ferries for Perth’s Swan River.
Thomas Kazakos, secretary general of The International Chamber of Shipping (ICS). ICS condemns Middle East shipping attacks as 20,000 seafarers remain trapped  

Industry body calls for urgent state action to resupply vessels and enable crew changes.
Molslinjen ferry illustration. Molslinjen order propels Australia to top of battery vessel production rankings  

Danish ferry operator’s three-catamaran order at Incat Tasmania shifts global manufacturing landscape, analysis shows.




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