Singapore Market Commentary (with evening update)

Tue 3 Nov 2009, 06:14 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes trading concluded firm this afternoon. Fueloil cargo went up USD6.00/MT while Gasoil cargo surged by close to USD1.00/BBL. No deal was reported on screen upon MOC. Delivered products were being quoted the same as cargoes sentiment, though WTI Access trading is showing some weakness. Meantime, our bunker indication is revised upward for all grades, amid average demand.

Morning Commentary

NYMEX Crude price has been like a roller-coaster effect recently. It rebounded back last night to settle at USD78.13 a barrel. As a result, both Fueloil and Gasoil papers were valued firmer by about USD3.50/MT and USD1.50/BBL respectively.

WTI Access trading is showing marginal gain this morning. Meantime, our bunker indication remains unchanged, except the MDO/MGO which were adjusted upward

MGO Singapore Singapore (SG)


		NE Atlantic ECA will cause significant change to the current fuel mix \| Steve Bee, VPS The possibility of off-spec issues highlights the continuing need for proactive fuel testing to protect vessels.

		Smart ships failing to convert data into actionable intelligence, warns SmartSea Maritime technology firm claims vessels collect vast amounts of data but lack integration to support decision-making.

		DNV forecasts 100-fold growth in clean hydrogen by 2060, with China leading expansion Classification society projects $3.2tn investment in hydrogen sector, with maritime accounting for 15% of clean hydrogen use.

		Dual-fuel container ship and vehicle carrier fleet surpasses 1,200 vessels World Shipping Council reports 65% year-on-year increase in operational dual-fuel vessels to 440 ships.

		European Shipowners calls for ETS revenue investment and fuel supplier mandate ECSA urges the EU to invest €9bn in annual ETS revenues in fuel production and infrastructure.

		Singapore bunker industry urged to prioritise resilience and collaboration SSA committee vice chair highlights energy security and crisis readiness at Marine Fuels Forum 2026.

		TFG Marine receives bunker safety award from Singapore maritime authority Marine fuel supplier recognised for safety standards and operational performance at MPA Marine Fuel Forum.

		Bunker surveyor sought in Rotterdam to meet increased demand Dutch firm MCE Marine Surveyors is recruiting for a quantitative fuel inspection role.

		GCMD highlights BHP biofuel trials to address scaling challenges in maritime decarbonisation Mining company discusses need for traceability and coordinated progress across supply, cost and operational readiness.

		Peninsula implements energy efficiency measures across bunker supply fleet Marine fuel supplier focusing on data-driven upgrades and operational measures to cut consumption.