Singapore Market Commentary (with evening update)

Tue 10 Aug 2010, 06:57 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment ended soft this afternoon. Fueloil cargo fell by about USD6.50/MT, with no physical deal reported. Gasoil cargo closed bearish by around USD2.10/BBL, supported by a deal done on screen.

Bunker market was offering lower for all products, backed by further dip of WTI Access futures value. Meantime, our bunker indication is revised downward for all grades, amid below average demand so far.

Morning Commentary

NYMEX Crude price dipped lower by USD1.31/BBL last Friday, but, it recovered back some last night to settle at USD81.48 a barrel.

In Singapore, Papers market opened softer after a long weekend and public holiday. Fueloil paper opened lower by almost USD2.00/MT today, while Gasoil paper was talked weak by about USD1.05/BBL. Meantime, our bunker indication is revised downward only for the MDO/MGO

MGO Singapore Singapore (SG)


		World Fuel seeks marine lube operations and sales executive in Greece US firm is recruiting for a commercial role focused on marine lubricants, based out of its Glyfada office.

		European shipowners call for fuel supplier mandates and ETS revenue investment ahead of policy revision Industry body urges EU policymakers to redirect carbon revenues into clean marine fuel production.

		Gasum secures LNG terminal capacity at Klaipėda through 2040 Nordic energy company locks in long-term LNG supply access to serve northwestern European markets.

		Chimbusco Pan Nation extends B100 biodiesel bunkering to oil tankers as quarterly volumes triple Hong Kong bunker supplier CPN says Q2 B100 deliveries have exceeded Q1 totals by more than 300%.

		TMD Energy extends bioenergy MOA with Double Corporate by two years Malaysian bunkering firm seeks to advance waste-to-energy marine fuel collaboration in EU and Asian markets.

		Exmar takes delivery of world’s first dual-fuel ammonia oceangoing vessel Belgian shipowner Exmar has taken delivery of what it says is the first oceangoing vessel powered by a dual-fuel ammonia engine.

		MOL and JAL partner with Lloyd’s Register and REGENT to advance Seaglider certification in Japan Four organisations join forces to establish regulatory pathways for electric wing-in-ground craft ahead of a targeted 2030 commercial launch.

		ABS and HD Hyundai entities secure battery hybrid approval for 16,000-teu container vessel Approval in principle issued for electrical design of ultra-large container ship at Posidonia.

		Keel laid for world’s largest LNG carrier at China’s Hudong-Zhonghua shipyard Construction begins on a 271,000-cbm QC-Max vessel, the largest LNG carrier ever built.

		Port of Las Palmas completes first LNG bunkering operation Baleària Canarias’ new fast ferry receives LNG via tanker truck in milestone delivery.