Thu 18 Jun 2009 05:14

Singapore Market Commentary (with evening update)


Evening Price Update

Fueloil cargo surged sharply by about USD8.00/MT supported by just a deal traded, notably many bidders and offers were seen on screen. Gasoil cargo closed bullish by about USD1.80/BBL.

Delivered products were selling much higher this afternoon for all grades, even though WTI Crude is not showing much hike so far. Meantime, our bunker indication is revised upward for all indices, amid average demand till now.

Morning Commentary

NYMEX Light Sweet Crude Oil price closed higher last night to settle at USD71.03 a barrel; WTI Access trading is showing quite steady with not so much fluctuation this morning.

Fueloil paper opened almost flat with marginal hike of just fifty US cents per metric ton. On the other hand, Gasoil paper opened much strong today, surged by USD1.40/BBL. For the time being, only our Distillates indices were revised upward and maintain the same for the rest of the grades.
Martin Vorgod, CEO of Global Risk Management. Martin Vorgod elevated to CEO of Global Risk Management  

Vorgod, currently CCO at GRM, will officially step in as CEO on December 1, succeeding Peder Møller.
Dorthe Bendtsen, KPI OceanConnect. Dorthe Bendtsen named interim CEO of KPI OceanConnect  

Officer with background in operations and governance to steer firm through transition as it searches for permanent leadership.
Bunker Holding's executive management team, from left to right: CCO Anders Grønborg, COO Peder Møller, CEO Keld R. Demant and CFO Michael Krabbe. Bunker Holding revamps commercial department and management team  

CCO departs; commercial activities divided into sales and operations.
Image of a bunker delivery being performed by Peninsula's Hercules 8000 tanker vessel. Peninsula extends UAE coverage into Abu Dhabi and Jebel Ali  

Supplier to provide 'full range of products' after securing bunker licences.
A screenshot taken from Peninsula's homepage on October 4, 2024. Peninsula to receive first of four tankers in Q2 2025  

Methanol-ready vessels form part of bunker supplier's fleet renewal programme.
Stephen Robinson, pictured on his appointment as Head of Bunker Strategy and Procurement at Tankers International. Stephen Robinson heads up bunker desk at Tankers International  

Former Bomin and Cockett MD appointed Head of Bunker Strategy and Procurement.
Chart showing percentage of off-spec and on-spec samples by fuel type, according to VPS. Is your vessel fully protected from the dangers of poor-quality fuel? | Steve Bee, VPS  

Commercial Director highlights issues linked to purchasing fuel and testing quality against old marine fuel standards.
Ships at the Tecon container terminal at the Port of Suape, Brazil. GDE Marine targets Suape LSMGO by year-end  

Expansion plan revealed following '100% incident-free' first month of VLSFO deliveries.
Hercules Tanker Management and Hyundai Mipo Dockyard sign bunker vessel agreement Peninsula CEO seals deal to build LNG bunker vessel  

Agreement signed through shipping company Hercules Tanker Management.
Illustration of Kotug tugboat and the logos of Auramarine and Sanmar Shipyards. Auramarine supply system chosen for landmark methanol-fuelled tugs  

Vessels to enter into service in mid-2025.

↑  Back to Top


 Related Links