Thu 18 Jun 2009, 05:14 GMT

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.


Ammonia Energy Association (AEA) logo. AEA qualifies global roster of auditors for ammonia certification system  

Bureau Veritas, DNV, TÜV SÜD and three others cleared to verify low-emission ammonia credentials.

New York city skyline. IBIA early-bird registration deadline approaches for New York convention  

Discounted rates available for members and non-members up until the end of August.

MARAD and Core Power MOC signing. MARAD and Core Power sign cooperation framework to advance nuclear-powered merchant ships  

Agreement targets first construction from 2028 as China accelerates its own nuclear shipping ambitions.

DNV and GEA logos. GEA and DNV launch three-year ethanol data intelligence partnership  

Collaboration will integrate structured global ethanol production data into DNV’s Alternative Fuels Insight platform.

VPS logo. Perfect storm at sea: High bunker prices meet declining fuel quality | Steve Bee, VPS  

VPS highlights sharp drop in fuel quality during 2026 amid higher prices.

Koper waterfront. SUPERALFUEL to hold first alternative marine fuels training course in Koper  

The Adriatic-Ionian initiative targets hydrogen, ammonia and methanol adoption in ports and shipping.

Steel-cutting ceremony of vessels with builder's hull nos. S1159 and S1160. CIMC SOE cuts steel on third and fourth 20,000-cbm LNG bunker vessels for GSX Energy  

Chinese shipbuilder advances series build as two hulls enter construction simultaneously.

Pennsylvania skyline. Sunoco seeks bunker trader in US to drive marine fuels growth  

New hire will be tasked with expanding Sunoco's bunker business in front-line commercial trading role.

Brooklyn Bridge and New York City skyline. Minerva Bunkering recruiting Americas sales manager as it targets regional growth  

New York-based manager is sought to build customer base across North and South America.

Marine battery container. AYK Energy to unveil swappable containerised marine battery system at SMM Hamburg  

The system claims to remove key cost and engineering barriers to marine electrification.