Singapore Market Commentary

Fri 20 May 2016, 04:48 GMT

Singapore Market Commentary

Market commentary from Wired Bunkering.

Evening Update

Cargoes trading ended much firmer on closing. Fuel oil cargo surged by USD7.50/MT, while gas oil cargo rose more, by USD1.00/BBL. All delivered pricing seemed to have offered higher too. MGO loading still remained tight and pushing prices higher for earliest about 23rd-24th May onwards. Meantime, our bunker indications are revised upwards for all grades, amid above average demand.

Morning Commentary

Crude futures for July contracts dipped marginally last night and both values are showing some recovery this morning. Both WTI Crude and ICE Brent for July value gained by USD0.11/BBL and USD0.12/BBL respectively.

In Singapore, paper sentiment was firm on opening. Fuel oil paper surged by USD7.00/MT while gasoil paper rose by USD1.50/BBL. This will likely push cargoes pricing higher today. Meantime, our bunker indications are revised upward for all grades.

MGO Singapore Singapore (SG)


		MCE Marine Surveyors seeks bunker surveyor in Rotterdam amid growing demand Liquid bulk surveyor certificate listed as a preference, as is prior experience in a bunker surveyor role.

		LNG dual-fuel tanker delivered to Capital Ship Management Vessel one of two handed over to Greek operators on the same day.

		Auramarine seeks quality specialist to unify European and Asian management systems Finnish fuel supply system maker is recruiting a quality specialist to harmonise its global operations.

		Navios Maritime Partners takes delivery of LNG- and methanol-ready Aframax tanker 117,012-dwt Nave Orbit features alternative-fuel readiness and energy-efficiency technology.

		PetroChina International seeks bunker sales manager to drive European growth Chinese state-owned energy trader targets ARA expansion with new commercial hire.

		Damen delivers HVO-ready CF 3850 to Lithuania’s Juru Agentura Forsa CF Anja marks the first newbuild vessel in Forsa’s dry cargo fleet.

		Orlen opens marine transshipment terminal in Gdansk Polish refiner's new quay facility can handle up to two million tonnes of products annually.

		Uni-Fuels appoints general manager for new Houston operation Experienced professional Robert Love aiming to expand the company’s presence in the United States.

		Sing Fuels hiring junior supply trader for Singapore operations Role aimed at candidates with one to two years of experience in marine fuels or the wider maritime industry.

		Exmar takes delivery of LNG carrier to serve the bunkering market Vessel to be convered into a floating transshipment unit for specialised LNG bunkering vessels to load fuel.