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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) 
Jurgen Gerdes, WinGD. WinGD signs global service agreement for TMS Cardiff Gas LNG carrier newbuilds  

WinGD will support six dual-fuel engines on three new LNG carriers for the Athens-based operator throughout their operational lives.
Yangze LNG 01 vessel. Yangzijiang Xinfu delivers first 175,000-cbm LNG carrier built by Chinese private shipyard  

Vessel features two dual-fuel MAN B&W 5G70ME-C10.5-GA-EGR engines fitted with cryogenic units.
Kaguya 200th ship-to-ship (STS) LNG bunkering operation. LNG bunkering vessel Kaguya completes 200th ship-to-ship operation in Japan  

K Line’s joint venture vessel reaches milestone in Mikawa Bay.
MFM Nicole vessel. Synergy Marine adds dual-fuel LPG carrier to managed fleet  

MFM Nicole joins Synergy’s gas carrier portfolio as owners weigh fuel choices ahead of MEPC 85 negotiations.
CMA CGM Notre Dame vessel. DSV to use CMA CGM’s ACT+ solution to slash shipping emissions  

Danish firm targets 12,000-tonne reduction in CO₂ emissions over two years through the use of UCOME-based biofuels.
Peninsula 2026 graduate cohort. Peninsula welcomes 2026 graduate cohort across global bunkering network  

Bunker firm brings new graduates into roles spanning Houston, Singapore, Gibraltar, Monaco and Las Palmas.
Mathias Krogsgard, Malik Supply. Malik Supply appoints Mathias Krogsgård as bunker trader  

Danish bunker firm adds trader with export and technology background to growing team.
Jeroen De Vos, Peninsula. Biofuel adoption in shipping shifts from debate to delivery, says Peninsula's Jeroen de Vos  

Marine biofuels have moved from pilot projects to routine fuel strategy, argues IBIA vice-chair.
KEPCO E&C and KR signing. KEPCO E&C and Korean Register of Shipping to collaborate on marine SMR development  

Korean firms to develop technical standards and certification pathways for the BANDI offshore small modular reactor.
Ship-to-ship (STS) LNG bunkering operation at the Port of Sagunto. Peninsula completes first LNG bunkering operation at Sagunto  

Levante LNG bunkering vessel supplies K Line car carrier in landmark delivery.




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