Thu 24 Jul 2008, 10:38 GMT

Singapore prices continue to fall


Bunker prices in Singapore tumble for the second day after $4 drop in crude.



Bunker prices continued to tumble in Singapore today following a fall in crude oil prices of approximately US$4 per barrel yesterday.

According to Bunker Index data, the price of 380-centistoke (cst) at the world's leading bunker port fell to $666 per tonne today, a drop of $21 compared to yesterday's indication price. It follows a particularly significant day's trading yesterday where the 380-cst price nosedived by $32 per tonne from $719 the previous day.

Meanwhile, 180-cst prices were also lower today at $691 per tonne, $20 down on yesterday's price of $711 per tonne. Bunker Index data published yesterday showed that the price of 180-cst had fallen by $32 from $743 per tonne on Tuesday.

Marine gasoil (MGO) prices tumbled for the third day in a row today to $1167 per tonne, down $30 on yesterday's price. Over the last three day's of trading, the price of MGO has now plummeted a total of $77. Yesterday's indication price was $30 lower than the previous day's price of $1227 per tonne, whilst on Tuesday the price of MGO also fell by $17.

Other ports also saw prices plunge yesterday. In Port Klang, the price of 380-cst fell by $20 to $705 per tonne, whilst 180-cst and MGO price levels also fell by $20 and $30 respectively to $730 per tonne and $1260 per tonne.

Rotterdam and Antwerp also recorded a drop of over $30 for almost all grades of high sulphur and low sulphur fuels yesterday. The high sulphur 380-cst price in Rotterdam slid by $37 to $640 per tonne, whilst in Antwerp the same grade of fuel tumbled by $30 to $645 per tonne.

In trading today, WTI crude for September delivery on the New York Mercantile Exchange (NYMEX) was pegged at $124.05 per barrel at 09:53 GMT, down $0.39 on yesterday's settlement price. London's Brent Crude was priced at $125.08 per barrel, $0.19 down on the price at the close of trading yesterday.


Jurgen Gerdes, WinGD. WinGD signs global service agreement for TMS Cardiff Gas LNG carrier newbuilds  

WinGD will support six dual-fuel engines on three new LNG carriers for the Athens-based operator throughout their operational lives.

Yangze LNG 01 vessel. Yangzijiang Xinfu delivers first 175,000-cbm LNG carrier built by Chinese private shipyard  

Vessel features two dual-fuel MAN B&W 5G70ME-C10.5-GA-EGR engines fitted with cryogenic units.

Kaguya 200th ship-to-ship (STS) LNG bunkering operation. LNG bunkering vessel Kaguya completes 200th ship-to-ship operation in Japan  

K Line’s joint venture vessel reaches milestone in Mikawa Bay.

MFM Nicole vessel. Synergy Marine adds dual-fuel LPG carrier to managed fleet  

MFM Nicole joins Synergy’s gas carrier portfolio as owners weigh fuel choices ahead of MEPC 85 negotiations.

CMA CGM Notre Dame vessel. DSV to use CMA CGM’s ACT+ solution to slash shipping emissions  

Danish firm targets 12,000-tonne reduction in CO₂ emissions over two years through the use of UCOME-based biofuels.

Peninsula 2026 graduate cohort. Peninsula welcomes 2026 graduate cohort across global bunkering network  

Bunker firm brings new graduates into roles spanning Houston, Singapore, Gibraltar, Monaco and Las Palmas.

Mathias Krogsgard, Malik Supply. Malik Supply appoints Mathias Krogsgård as bunker trader  

Danish bunker firm adds trader with export and technology background to growing team.

Jeroen De Vos, Peninsula. Biofuel adoption in shipping shifts from debate to delivery, says Peninsula's Jeroen de Vos  

Marine biofuels have moved from pilot projects to routine fuel strategy, argues IBIA vice-chair.

KEPCO E&C and KR signing. KEPCO E&C and Korean Register of Shipping to collaborate on marine SMR development  

Korean firms to develop technical standards and certification pathways for the BANDI offshore small modular reactor.

Ship-to-ship (STS) LNG bunkering operation at the Port of Sagunto. Peninsula completes first LNG bunkering operation at Sagunto  

Levante LNG bunkering vessel supplies K Line car carrier in landmark delivery.