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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.

Singapore  Singapore (SG) 
CMB.Tech and TFG Marine signing. CMB.Tech raises TFG Marine stake to 15% and consolidates bunker procurement through joint venture  

CMB.Tech increases its equity stake in TFG Marine and commits its entire fleet’s bunker requirements to the joint venture.
XFuel demo plant in Mallorca, Spain. XFuel secures EUR 4.1m Catalonia grant for waste-derived marine fuel plant  

Spanish start-up wins funding to build a modular facility converting waste oils into low-carbon marine gas oil.
Liquefied biogas facility at Port of Gothenburg render. Construction begins on liquefied biogas facility at Port of Gothenburg  

Nordion Energi's new plant aims to open up Swedish biogas supply to shipping and other sectors beyond the gas grid.
Sun Princess ship-to-ship (STS) LNG bunkering operation. Axpo completes first LNG bunkering of cruise ship at port of Naples  

Sun Princess bunkered at Naples, marking the first LNG operation on a cruise vessel at the Italian port.
Ship-to-ship (STS) HVO supply at Keihin Port. Kamei Corporation begins Japan’s first ship-to-ship HVO supply at Keihin Port  

Japanese energy company launches HVO bunkering operation using drop-in biodiesel fuel brand Susteo.
Participants of SSA training course. SSA launches green fuels training course ahead of low-carbon transition  

The Singapore Shipping Association has introduced a course covering alternative marine fuels and emissions frameworks.
The Nautical Institute (NI) logo. The Nautical Institute launches bunkering and engineering assessors course  

New programme targets behavioural competency and human factors in high-risk shipboard operations.
Blue Energy Partners logo. Global Fuel Supply rebrands as Blue Energy Partners  

Copenhagen-founded marine energy company adopts new name reflecting expanded product and geographic reach.
Quasar Conservation vesel render. ABB retrofits expedition yacht with hybrid-electric propulsion for Galápagos operations  

The conversion will make the 1970s-built vessel the first hybrid-electric yacht of its type in the archipelago, says ABB.
Grande Svezia vessel. Grimaldi christens ammonia-ready car carrier Grande Svezia at Swedish port  

Grimaldi Group's new PCTC, delivered in December 2025, claims fuel savings of up to 50%.




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