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)


		China’s renewable energy could fuel global shipping decarbonisation, says GCMD Maritime body sees potential for China to convert domestic wind and solar into green marine fuels.

		OceanScore adds vessel activation controls for EU ETS and FuelEU compliance workflows Software provider introduces a feature allowing third-party managers to toggle vessel compliance status while preserving historical data.

		MOL develops carbon inset and book-and-claim programme for alternative marine fuels Japanese shipowner details mechanism to verify, certify and fund use of biomethanol and other low-carbon fuels.

		Hafnia orders eight MR tankers from Hyundai Heavy Industries for $405m Vessels scheduled for delivery between Q3 2028 and Q2 2029 at South Korean shipyard.

		IBIA appoints Sommer Mitchell as marketing and events coordinator Mitchell brings more than five years of experience to the marine fuels industry association.

		MOL's 12th LNG dual-fuel car carrier makes maiden call in Singapore Lazulite Ace arrives in Singapore following delivery from Japanese shipyard in March.

		Deendayal Port Authority completes India’s first methanol bunkering demonstration Kandla port conducts maiden methanol bunkering trial in 'step towards maritime decarbonization.'

		Fincantieri lays keel for hydrogen-powered cruise ship Viking Astrea Second hydrogen-fuelled vessel in Viking series scheduled for delivery in 2027 from Ancona yard.

		RMK Marine launches methanol-ready chemical tanker for Ditaş Denizcilik T. Florya, a 12,000-dwt vessel designed by Delta Marine, is launched by Turkish shipbuilder.

		Renewable methanol project pipeline reaches 59.6m tonnes as offtake challenges persist GENA Solutions tracks 281 facilities and projects, with China dominating biomethanol and e-methanol capacity.