Singapore Market Commentary (with evening update)

Wed 24 Mar 2010, 06:31 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo dipped by USD 3.00-4.00/MT along with bearish paper value while Gasoil cargo closed almost steady to marginally soft by USD 0.10-0.15/BBL.

Our Bunker indication was revised inch lower for Fueloil and remains unchanged for MDO/MGO.

Morning Commentary

NYMEX Crude price eventually closed firmer last night upon closing to settle at USD81.91 a barrel. WTI Access trading is showing weak this morning.

In Singapore, Papers market opened mixed. Fueloil paper was pegged marginal softer by within a dollar while Gasoil paper was talked slightly higher by USD0.25/BBL today. Meantime, our bunker indication remains broadly unchanged for all grades till we see how the Cargoes assessment will react this afternoon.

MGO Singapore Singapore (SG)


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		IINO Lines secures sustainable shipping finance for methanol dual-fuel VLCC Japanese shipowner signs impact financing agreement with Mizuho Bank for alternative-fuel tanker.

		Fluxys Belgium reports EUR74.9m profit as LNG flows surge and hydrogen infrastructure begins Belgian gas infrastructure operator’s 2025 net profit fell 8.8% amid hydrogen and CO₂ investments.

		Shale oil components detected in Singapore marine fuel \| VPS VPS testing identifies 90,000 mt of delivered VLSFO containing Estonian shale oil compounds.

		IBIA chair completes two-year term, citing expansion in regulatory engagement and membership Outgoing chair to remain on Global Board and lead Future Fuels and Bunker Buyers’ working groups.

		LNG and methanol investments risk becoming 'dead ends' for shipping decarbonisation, UCL study finds Research warns transitional marine fuels may lock in fossil infrastructure rather than enabling an ammonia pathway.

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		Wah Kwong takes delivery of first LNG-ready LR2 tanker with Bureau Veritas SMART notation Frontier Venture is first in newbuild series to achieve Group 3 'augmented ship' capabilities.