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)


		Singapore 12-month bunker calls hit all-time high in July TTM calls at world's largest bunkering hub reach record levels despite softer sales volumes.

		Singapore T3M bunker sales stay below 14m tonnes for fourth month running Rolling three-month volumes remain subdued despite modest month-on-month recovery in July.

		Peru’s Port of Callao launches first shore power system in Latin America DP World Callao’s onshore power supply system could cut over 6,300 tonnes of CO₂ annually.

		New Times Shipbuilding delivers LNG dual-fuel crude oil tanker to Capital Chinese yard hands over 155,500-dwt vessel in ceremony attended by owner’s representative.

		Shell completes maiden LNG bunkering operation in Valencia Delivery to MSC vessel facilitated by Fratelli Cosulich said to be first-ever LNG bunker supply at Spanish port.

		PIL hiring senior marine fuels executive to manage global bunkering operations Singapore-based role includes oversight of fuel procurement and delivery operations, covering PIL's fleet of container and multi-purpose vessels.

		Changhong International Shipbuilding cuts steel on two more 3100-teu boxships for Costamare HSFO-fuelled vessels feature scrubbers, SCR systems and shore power connections to meet emissions requirements.

		Lloyd’s Register and Maersk Mc-Kinney Møller Center launch ammonia safety and training resources for shipping New tools aim to help operators build the safety management and competency frameworks needed for ammonia-fuelled vessels.

		IBT Bunkering & Trading appoints Kevin Döhmen to manage new Singapore office Döhmen tasked with developing IBT’s operation in the Asian city-state.

		Peak takes delivery of third S-class vessel and cuts steel for ammonia-fuelled ship Norwegian operator marks two events at Chinese yard as ammonia-powered newbuild programme advances.