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)


		WinGD to host webinar on methanol- and ethanol-flexible fuel engine technology Engine manufacturer will discuss market outlook, regulations and operational experience with alcohol-based marine fuels.

		Peninsula opens applications for 2026 graduate programmes in marine fuels trading Two-year scheme offers positions across six global locations starting in September, combining hands-on experience with structured development.

		Oilmar DMCC promotes Collin She to key account manager role She will lead strategic customer relationships and drive growth opportunities in Singapore and the wider region.

		Hong Kong completes first green methanol bunkering with CCS support China Classification Society provides technical oversight for methanol-fuelled vessel's inaugural Hong Kong refuelling operation.

		Dorian LPG takes delivery of dual-fuel VLGC capable of carrying ammonia The 93,000-cbm Areion can run on LPG or fuel oil and transport ammonia cargoes.

		RINA awards ISCC EU certification to OLT Offshore LNG Toscana for bio-LNG supply Certification enables bio-LNG use in the EU as a renewable fuel under RED II and RED III directives.

		WSC calls for safe maritime corridor as 20,000 seafarers remain trapped in the Persian Gulf Industry body urges IMO member states to establish safe passage and supply access.

		Auramarine to host webinar on ammonia as marine fuel in April Finnish firm will explore ammonia’s role in maritime decarbonisation at its third spring webinar.

		Green ammonia could reach cost parity with VLSFO and LNG by 2050, study finds WinGD and Envision Energy study projects green ammonia operational costs competitive with conventional marine fuels.

		Bureau Veritas verifies methane emissions on Brittany Ferries’ LNG vessels Verification enables ferry operator to report measured methane slip instead of regulatory default values.