Singapore Market Commentary (with evening update)

Wed 25 Nov 2009, 07:11 GMT

Singapore Market Commentary (with evening update)

Evening Commentary

Fueloil cargo closed almost steady this afternoon in line with recovery of paper value. Gasoil cargo was stable to slightly lower by USD 0.10-0.15/BBL.

Bunker demand has been noted average today with similar levels as yesterday. Our Bunker indication was revised higher for Fueloil and remains unchanged for MDO/MGO.

Morning Commentary

NYMEX crude closed weaker at just above USD 76/BBL mark. Following bearish crude sentiment, both Fueloil and Gasoil paper opened softer by USD 5.00-5.50/MT and USD 0.90/BBL respectively this morning.

Bunker prices slipped further last night amid slow demand. Our Bunker indication was revised downward for all grades meanwhile.

MGO Singapore Singapore (SG)


		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.

		New Times Shipbuilding launches LNG dual-fuel tanker for Minerva 112,500-dwt Minerva Helen launched at shipyard in Jiangsu, China.

		Leonhardt & Blumberg equips first of four newbuilds with Econowind VentoFoils German shipowner installs wind-assisted propulsion technology aboard general cargo vessel Hansa Drejoe.