Singapore Market Commentary (with evening update)

Tue 13 Oct 2009, 06:24 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment was very active this afternoon with many Sellers and Bidders rallied on the screen. Fueloil cargo closed steady to marginal dip, supported by two physical deals traded; while Gasoil cargo concluded much firmer instead by almost USD2.00/BBL, with no deal heard.

WTI Access trading is showing positive gains now. Therefore, our Bunker indication for the MDO/MGO is further revised higher again, notably below average demand so far.

Morning Commentary

WTI Crude continued to surge last night to couclude at USD73.27 a barrel while Access is showing some weakness this morning. However, Papers market moved along with firmer Crude sentiment. Both Fueloil and Gasoil papers were pegged higher by USD2.50/MT and USD1.10/BBL respectivey. Meantime, only our Distillates indication is revised upward.

MGO Singapore Singapore (SG)


		Low-GHG methane could keep LNG-capable fleet compliant as regulations tighten, DNV paper argues Biomethane and e-methane offer a compliance pathway for LNG-capable ships, says DNV.

		HaiSea's fleet of electric and dual-fuel tugboats completes 100th LNG carrier escort into Kitimat The Haisla Nation and Seaspan joint venture marks one year of LNG carrier escort operations in British Columbia.

		Naming ceremony held for LNG dual-fuel VLCC Mount Vision Crude oil tanker named in ceremony held in China.

		MOL signs bio-LNG supply deals for car carriers across Northern Europe and Mediterranean Japanese shipping group expands bio-LNG bunkering to Spanish ports as part of its net-zero strategy.

		Dan-Bunkering launches two-year trainee programme for aspiring marine fuel traders Bunker firm is recruiting trainees for an August 2026 start across its European offices.

		Chevron hiring London-based marine fuels marketer with renewable fuels remit Applications open until 30 June for role involving the marketing of physical bunker fuels with a focus on Europe.

		Burando Energies seeks operator to support Rotterdam bunkering activities New hire will be responsible for planning, coordinating and monitoring operational activities across the firm's bunkering business.

		Corvus Energy to supply battery systems for two new Scylla Shipping river cruise vessels Norwegian battery supplier extends its partnership with Swiss river cruise operator Scylla Shipping.

		NYK signs time-charter deal for two dual-fuel LPG-powered VLGCs Singapore subsidiary will provide gas carriers to carry Louisiana-produced ammonia to Japan.

		MOL wins LR technology award for wind-assisted propulsion on LNG carriers Lloyd’s Register honours Mitsui O.S.K. Lines for its Wind Challenger decarbonisation work.