Singapore Market Commentary (with evening update)

Mon 18 May 2009, 07:36 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes trading was much active today and closed soft in the end, especially the Gasoil cargo which plunged by about USD2.50/BBL. Fueloil cargo notably concluded weaker as well by USD6.00/MT.

Delivered prices were offer lower today, but not anymore when WTI Access trading is firming up now. Meantime, our bunker indication remains unchanged, except the MDO/MGO which was adjusted downward, amid average demand so far.

Morning Commentary

NYMEX Crude price fell sharply on closing last Friday to conclude at USD56.34 a barrel. WTI Access trading is showing steady to marginal dip this morning.

Dragged down by the weakened of Crude sentiments, Fueloil paper opened much weak by about USD11.00/MT while Gasoil paper plunged by USD3.00/BBL today. This will probably stimulate lower delivered prices, if cargo trading were to ride along the same trend this afternoon. Meantime, our bunker indication is revised downward for all grades.

MGO Singapore Singapore (SG)


		Malik Supply seeks bunker trader for Dubai office expansion Danish firm looking for experienced professionals with a minimum of two years in bunker trading.

		NYK joint venture names first China-built dual-fuel LNG carrier in six-vessel CNOOC series 174,000-cbm vessel uses both fuel oil and boil-off gas as fuel.

		Anew Climate joins SEA-LNG coalition to advance bio-LNG adoption in the maritime sector North American low-carbon fuels company brings liquefied biomethane supply to the coalition.

		Wind propulsion breaks new ground on French Polynesian multipurpose vessel Wind propulsion specialist bound4blue installs its eSAIL on what is believed to be the world’s first multipurpose vessel fitted with wind propulsion.

		Peninsula outlines case for bio-LNG as near-term emissions pathway for LNG-fuelled vessels Company says bio-LNG offers operators a practical route to emissions cuts using existing infrastructure.

		Fratelli Cosulich Bunkers receives MPA harbour craft workforce award Bunkering firm recognised for its support of Singapore's maritime training programme.

		UK Chamber of Shipping publishes safety evidence base for alternative marine fuels New report covering five fuel pathways aims to support the industry’s safe transition to net zero.

		Navigator Gas secures $121.8m loan for two ammonia carriers under construction in China Navigator Holdings and Amon Maritime joint venture locks in six-year post-delivery financing for dual-fuel vessels due in 2028.

		US project cancellation marks first monthly contraction in renewable methanol pipeline in over three years GENA’s July 2026 data shows a 0.5 MMT pipeline contraction as North America loses ground.

		Orica reaches FID on Australian renewable ammonia project as US mega-scale cancellation dents low-carbon pipeline GENA data shows project pipeline contraction as Air Products’ Louisiana complex is halted.