Singapore Market Commentary (with evening update)

Tue 14 Sep 2010, 06:15 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes trading indeed closed firmer this afternoon. Fueloil cargo surged higher only by about USD1.50/MT, with no deal done. Gasoil cargo concluded with a hike of about USD0.75/BBL, supported with two deals traded on screen.

Delivered prices were offered more or less steady, as possibly WTI Crude sentiment has softened after staying almost flat since this morning. Meantime, our bunker indication is adjusted accordingly, amid below average demand.

Morning Commentary

NYMEX Crude price closed firm last night to settle at USD77.19 a barrel. Thus, it pushed up Papers market in Singapore today. Fueloil paper opened higher by about USD5.50/MT and Gasoil paper was pegged almost USD1.00/BBL.

This will likely stimulate bunker prices to surge if Cargoes can prove to be moving along the same direction this afternoon. But, WTI Access trading is showing steady with little change this morning. Meantime, our bunker indication is revised upward only for the MDO/MGO.

MGO Singapore Singapore (SG)


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		New Times Shipbuilding delivers LNG dual-fuel crude oil tanker to Capital Chinese yard hands over 155,500-dwt vessel in ceremony attended by owner’s representative.

		Shell completes maiden LNG bunkering operation in Valencia Delivery to MSC vessel facilitated by Fratelli Cosulich said to be first-ever LNG bunker supply at Spanish port.

		PIL hiring senior marine fuels executive to manage global bunkering operations Singapore-based role includes oversight of fuel procurement and delivery operations, covering PIL's fleet of container and multi-purpose vessels.

		Changhong International Shipbuilding cuts steel on two more 3100-teu boxships for Costamare HSFO-fuelled vessels feature scrubbers, SCR systems and shore power connections to meet emissions requirements.

		Lloyd’s Register and Maersk Mc-Kinney Møller Center launch ammonia safety and training resources for shipping New tools aim to help operators build the safety management and competency frameworks needed for ammonia-fuelled vessels.

		IBT Bunkering & Trading appoints Kevin Döhmen to manage new Singapore office Döhmen tasked with developing IBT’s operation in the Asian city-state.

		Peak takes delivery of third S-class vessel and cuts steel for ammonia-fuelled ship Norwegian operator marks two events at Chinese yard as ammonia-powered newbuild programme advances.