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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.

Hiring concept with puzzle pieces. Malik Supply seeks bunker trader for Fredericia office  

Danish company advertises role focusing on client portfolio development and energy product trading.
Hiring concept with puzzle pieces and a magnifying glass. Chimbusco Pan Nation seeks credit analysts for Asia-Pacific and Middle East expansion  

Bunker firm recruiting for Hong Kong, Singapore, and Shanghai offices with APAC and MENA focus.
Wärtsilä 20DF small dual-fuel engine render. Wärtsilä to supply biodiesel-capable engines for AMAGGI's two new Amazon pusher tugs  

Brazilian operator orders fuel-flexible engines for vessels designed to push 20 barges on inland waterways.
Fluvius Tavy vessel. Amasus installs second bound4blue wind sail on general cargo vessel  

Dutch shipowner installs what is said to be the largest suction sail ever fitted to a general cargo vessel.
Vasileios Analytis, Burando Energies. Burando Energies appoints Vasileios Analytis as commercial director in Dubai  

Marine fuel trader promoted following expanded trading activity and commercial development.
Japan Engine Corporation (J-ENG) logo. J-ENG starts development of methanol-fuelled marine engine  

Japanese engine maker targets 2027 completion for UEC50LSJM model following ammonia and hydrogen engine projects.
Mureloil 8,000-dwt vessel render. AYK Energy secures second battery contract with Mureloil for chemical tankers  

Spanish ship owner orders hybrid propulsion systems for two 8,000-dwt vessels transporting biofuels and methanol.
21,700-teu vessel render. DNV approves 21,700-teu container ship design with ammonia fuel capability  

Design by Zhoushan Changhong and CIMC ORIC can accommodate LNG or ammonia propulsion systems.
Yara Eyde vessel render. CMB.Tech invests in Chinese ammonia supply chain ahead of fleet deliveries  

Belgian shipping group secures green ammonia offtake and takes stake in Andefu supply company.
Peter Keller, SEA-LNG. UK P&I Club joins SEA-LNG coalition to support LNG marine fuel adoption  

Insurer brings 50 years of LNG experience to methane pathway coalition focused on maritime decarbonisation.




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