Singapore Market Commentary (with evening update)

Thu 27 Aug 2009, 06:09 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed steady to marginal firmer with no physical deal traded, even though much rallies were seen on the screen; Gasoil cargo concluded weak by about USD0.90/BBL, supported by only one cargo deal.

NYMEX Crude assessment for future contracts are showing some dip now. Meantime, our bunker indication remains unchanged except the MDO/MGO which are adjusted downward, amid below average demand till now.

Morning Commentary

NYMEX Crude price closed softer last night to conclude at USD71.43 a barrel and WTI Access is showing some weakness this morning.

Similarly, Fueloil paper opened with a decline of USD4.00/MT while Gasoil paper was talked lower by USD1.10/BBL today. Meantime, our bunker indication remains broadly unchanged for all grades until we see how the Cargoes assessment will react this afternoon.

MGO Singapore Singapore (SG)


		Changhong International launches ninth LR2 tanker in Navios series Vessel includes future methanol and LNG conversion capability as well as shore power provision.

		European shipowners back EU ETS revenue earmarking but warn proposal falls short on clean technology support ECSA welcomes fuel support and revenue earmarking but calls for broader technology eligibility and a clear IMO withdrawal clause.

		WSC backs EU ETS fuel revenue reinvestment but warns over port competitiveness rules The World Shipping Council welcomes proposed ETS fuel mechanism changes but flags concerns over neighbouring port proposals.

		Western Baltic Engineering unveils green methanol bunkering vessel concept for Klaipėda Concept vessel design features an 800-tonne capacity and annual supply potential of 250,000 tonnes.

		World Fuel seeks marine lubricants sales executive in Greece US firm is recruiting for a commercial role based in Glyfada.

		CCS supports first STS methanol bunkering operation for newbuild at Zhejiang yard Zhoushan becomes China’s second port capable of routine ship-to-ship methanol bunkering operations.

		FueLNG completes 800th LNG bunkering operation in Singapore Marine fuel supplier completes landmark LNG delivery at world's largest bunker port.

		Ardmore Shipping posts 14% fleet emissions reduction in 2025 sustainability report Ardmore Shipping’s annual sustainability report highlights emissions cuts, safety gains and governance rankings across its tanker fleet.

		SEA-LNG mid-year review points to continued growth across methane pathway as coalition marks tenth anniversary LNG orders, bunkering volumes and biomethane production all rise as SEA-LNG gains IMO consultative status.

		Econowind receives DNV type approval for VentoFoil 3-Series wind propulsion wing DNV certification set to streamline integration of VentoFoils on classed vessels worldwide.