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Mon 30 Sep 2013, 06:38 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment closed weaker this afternoon with notably more sheds on the Distillates. Fueloil cargo dipped by about USD2-3/MT and Gasoil cargo fell much softer by USD1.00/BBL. Ex-wharf cargo on spot was offered quite steady as per last close, yet delivered prices were quoted quite aggressively low. This could possibly be due to weakening of Crude futures sentiment earlier.

Demand was above average and this week Asia market may not be so active due to China being closed for a week with its national holiday starting tomorrow. Meantime, our bunker indication is revised downward only for the MDO/MGO.

Morning Commentary

Crude futures took a slight dip last Friday upon closing. The sheds were for November values - USD0.16/bbl and USD0.58/bbl for the WTI Crude and ICE Brent futures respectively. Both are still showing negative gains this morning.

This has pulled down Paper market sentiment as well. Fueloil paper opened weaker by about USD6.00/MT while Gasoil paper was pegged softer by USD0.45/bbl. Meantime, our bunker indication is revised downward moderately for all grades.

MGO   Singapore  Singapore (SG) 
FuelEU Maritime webinar graphic. Bunker Holding webinar to compare FuelEU Maritime compliance costs ahead of 30 April deadline  

Njord-hosted event will examine pooling versus borrowing options using real-world data from the maritime sector.
Singapore waterfront skyline. Oilmar DMCC seeks bunker traders for Singapore office  

Marine fuel trading firm is recruiting mid-level and senior professionals to expand Asia-Pacific marine fuels operations.
Dubai skyline. Oilmar DMCC seeks senior bunker trader for Dubai operations  

Dubai-based energy firm recruits experienced marine fuels trader to expand Middle East portfolio.
Zhoushan Changhong International Shipyard logo. Zhoushan Changhong secures orders through 2029 with LNG dual-fuel container ships  

Chinese shipyard reports full order book as it constructs 19,000-teu vessels for MSC Group.
Century Highway Green vessel. K Line secures long-term bio-LNG supply for car carrier fleet  

Japanese shipping company expects to reduce greenhouse gas emissions by 60,800 tonnes annually.
One Simplicity vessel. Methanol- and ammonia-ready container ship delivered to ONE  

Approval in Principle obtained from Lloyd’s Register for future methanol and ammonia fuel conversion.
Methanol bunker fuel delivery. World Fuel Services and West Coast Clean Fuels launch methanol bunkering across US ports  

First over-the-water methanol delivery completed in South Florida with Coast Guard-approved procedures.
Valerie Ahrens. Burando Energies appoints Valerie Ahrens as global head of methanol  

Ahrens brings more than 30 years of energy sector experience to the marine fuels supplier.
New Sea Generation (NSG) logo. New Sea Generation seeks junior bunker trader in Greece  

Greek bunker firm advertises role requiring commitment to demanding work schedule and operational responsibilities.
Person signing a document. IINO Lines secures sustainable shipping finance for methanol dual-fuel VLCC  

Japanese shipowner signs impact financing agreement with Mizuho Bank for alternative-fuel tanker.




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