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Wed 13 Nov 2013 06:42

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes trading ended with more dips this afternoon. Fueloil cargo fell by about USD5.00/MT while Gasoil cargo went under another about USD0.60/BBL today. All delivered prices were offered cheaper due to demand level being quite low for these few days. Crude futures are firming up gradually. Meantime, our bunker indication is revised downward for all grades.

Morning Commentary

WTI Crude for December took a sharp dip last night and shed off USD2.10/bbl. Similarly, ICE Brent future for December fell by USD0.59/bbl. This has dragged down Paper market sentiment this morning. Both Fueloil and Gasoil papers were pegged lower by about USD4.00/MT and USD0.55/bbl respectively. We shall see how Cargoes trading will react this afternoon. Meantime, our bunker indication is revised downward for all grades.

Marcus Møller, Bunker Trader at Malik Supply. Malik Supply promotes trainee to bunker trader role  

Marcus Møller completes internal training programme.
Orchid Leader dual-fuel car carrier at Fuzhou Port. Ship deployed for new Middle East route is largest dual-fuel car carrier to berth at Fuzhou  

New service cuts logistics time by 50% for Chinese auto exports to Middle East.
Naming ceremony of CMA CGM Helium. CMA CGM names dual-fuel methanol vessel for Asia-Mediterranean service  

The CMA CGM Helium has been deployed on the Phoenician Express route connecting multiple regions.
NYK Line logo. Tug becomes world's first ammonia-fuelled vessel to receive environmental credit certification  

Third-party validation enables Book & Claim allocation to help reduce customers' Scope 3 emissions.
CMA CGM LNG-powered containership illustration. CMA CGM signs letter of intent for six LNG-powered containerships from Indian shipyard  

French shipping group becomes first international carrier to order LNG vessels from India.
LNG carrier Coral Energy. Klaipėda LNG terminal completes Baltic's first virtual biomethane liquefaction  

Operation involved bio-LNG being loaded onto gas carrier with virtual biomethane liquefaction at terminal.
OCI Global and Victrol MoU signing. OCI Global and Victrol partner to develop ammonia bunkering supply chain in Netherlands and Belgium  

Companies sign MoU to create end-to-end clean ammonia fuel infrastructure across Benelux ports.
Container ship UNI-ASSURE Panama. Green fuel producers urge IMO to adopt Net-Zero Framework with e-fuel incentives  

Twenty companies call for policy certainty ahead of extraordinary IMO session this week.
Illustration of eMethanol Production Process by Liquid Wind. Swedish funding secured for e-methanol plant pre-engineering  

Swedish Energy Agency backs Örnsköldsvik e-fuel facility through green transition programme.
Render of Petroineos’ new bunker vessel for southern France. Petroineos orders two new bunker vessels for southern France operations  

Vessels will handle conventional and low-carbon fuels, including biofuels and e-methanol, from 2028.




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