Singapore Market Commentary (with evening update)

Wed 14 Oct 2009, 10:49 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo ended just firmer by about a dollar per MT, supported by a deal done; while Gasoil cargo concluded with a positive climb of about USD1.40/BBL.

WTI Access trading is still showing much gains just moment ago, once peaked to as high as USD75.15 a barrel. Meantime, our bunker indication remains as it is, but the MDO/MGO which is adjusted upward further instead, amid average demand so far.

Morning Commentary

NYMEX Crude price rose again last night, eventually closing at USD74.15 a barrel and WTI Access trading is showing further gains this morning. Papers market too is riding high on the back of strong Crude sentiments.

Both Fueloil and Gasoil paper surged by about USD5.00/MT and USD1.60/BBL respectively. This will again stimulate firm selling of delivered pricing this afternoon. Meantime, our bunker indication is revised upward for all grades.

MGO Singapore Rotterdam (NL)


		Osprey Energy seeks junior bunker trader to support Cebu trading activities from Netherlands Dutch marine fuel supplier targets Cebu region expansion through new training programme for Filipino candidates.

		KPI OceanConnect highlights falling EUA prices as opportunity for shipowners to lock in compliance costs Marine fuel supplier says timing carbon allowance purchases can reduce costs as EU emissions scope expands.

		RINA partners with Hanwha Group on battery-hybrid propulsion for ro-ro ferries Classification society to provide regulatory compliance verification for hybrid battery systems on newbuilds and retrofits.

		HGK Shipping’s Amadeus Titanium fitted with wind assistance system Coastal vessel equipped with VentoFoils at Dutch port to reduce fuel consumption on Covestro routes.

		Bunker One expands physical supply operations to Tallinn and Finland Marine fuel supplier extends Baltic Sea coverage with new operational presence in Estonia and Finland.

		Sawgrass LNG & Power completes first shore-to-ship LNG bunkering at Port Everglades Operation fuelled Ritz-Carlton Yacht Collection vessel Ilma on March 26, marking expansion of marine LNG infrastructure.

		Avenir LNG completes first ship-to-ship LNG bunkering of ferry in Klaipeda Operation marks Lithuania’s first STS LNG bunkering of a ferry, expanding Avenir’s Baltic operations.

		Auramarine to host webinar on ammonia fuel supply systems and safety considerations Finnish marine equipment provider schedules 16 April session on ammonia as an alternative fuel for shipping.

		Hong Kong launches world’s first government-led green maritime fuel trainer programme Three-day course aims to certify trainers in alternative fuels, including ammonia, methanol and hydrogen.

		The emergence of B100 FAME in a volatile distillate market \| Paul Hoather, VPS VPS UK Sales Manager provides recommendations following increased B100 usage due to price dynamics.