Singapore Market Commentary (with evening update)

Fri 18 Jun 2010, 06:01 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo dipped by about USD3.50/MT, while Gasoil cargo surged by USD0.70/BBL. No physical deal changed hands after Market-On-Close.

WTI Access trading is still showing negatine gains. Meantime, our bunker indication is revised accordingly along with Cargoes' trend, amid average demand.

Morning Commentary

NYMEX Crude price closed softer last night by almost USD0.90 a barrel and WTI Access trading is showing weaker this morning. However, Papers market opened firmer today. Both Fueloil and Gasoil papers were pegged higher by USD1.50/MT and USD.15/BBL respectively.

Meantime, our bunker indication is revised upward only for the MDO/MGO. We shall see how the Cargoes assessment will react this afternoon.

MGO Singapore Singapore (SG)


		Liquid Wind parent company declared bankrupt, business put up for sale Swedish e-fuel facility developer enters bankruptcy proceedings, with subsidiaries across three Nordic countries now available for acquisition.

		Corvus Energy and BYD Energy Storage sign strategic agreement for marine battery development Norway-based Corvus and Chinese firm BYD formalise partnership for next-generation lithium iron phosphate systems.

		EMSA to host webinar on hydrogen as marine fuel Second episode of Tide Talks series scheduled for 29 June draws on agency studies.

		Keel laid for MSC 19,000-teu LNG dual-fuel container ship Vessel CHB2047 is being built at Changhong International’s Daishan facility in Zhoushan.

		NYK achieves over 90% methane oxidation in LNG engine catalyst trial Japanese shipping company reports results from onboard test of system designed to reduce methane slip.

		Uni-Fuels seeks general manager for Houston bunker trading desk Nasdaq-listed marine fuel seller advertises for commercial leader to oversee P&L and customer relationships.

		Emvolon wins Massachusetts grant for biomethane-to-biomethanol conversion system Technology converts biomethane into biomethanol at source, with applications including sustainable aviation fuel production.

		Malik Energy expands team with two new hires in Denmark Marine fuel supplier adds chemicals specialist and supplier to Fredericia and Aalborg offices.

		Straits Bio-LNG reports favourable soil test results for jetty construction Preliminary soil boring tests show shallower depth than expected at Singapore-based company’s jetty site.

		Flex Commodities hires Trafigura operator for Greek bunker deliveries Evangelia Tsimpidi joins from Trafigura Maritime Ventures with experience in ARA and US markets.