Singapore Market Commentary (with evening update)

Wed 23 Jun 2010, 06:39 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment closed mixed this afternoon. Fueloil cargo closed firmer by USD2.50/MT while Gasoil cargo dipped by about USD0.40/BBL instead. No deal was reported on screen.

WTI Access trading is showing negative gains since this morning. Meantime, our bunker indication remains unchanged except the MDO/MGO which are adjusted downward once again, amid average demand.

Morning Commentary

NYMEX Crude price closed softer last evening, eventually concluding at USD77.86 a barrel. WTI Access trading is showing weaker this morning.

With weakened Crude sentiments, both Fueloil and Gasoils papers were talked weaker too, dipping by about USD2.00/MT and USD1.00/BBL respectively. Meantime, our bunker indication is revised downward only for the MDO/MGO.

MGO Singapore Singapore (SG)


		Flex Commodities moves Dubai head office to Jumeirah Lakes Towers UAE-based firm relocates to waterfront community popular amongst bunker companies.

		Echandia: Batteries offer fuel savings by optimising generator loads on large vessels Marine batteries could cut auxiliary generator fuel consumption by up to 15%, according to technology firm.

		Amazónica LNG joins SEA-LNG, extending the coalition’s reach into Latin America Colombian LNG terminal operator becomes first South American member of the multi-sector industry group.

		Hong Lam Marine launches first of four newbuild bunkering vessels First ship in the series, Priority, is launched in Jiangmen, China.

		CMA CGM completes world’s largest single-batch biomethanol bunkering at Shanghai 8,016-tonne operation said to be enough to fuel an entire transoceanic voyage.

		ClassNK revises alternative fuels guidelines to address hydrogen, methanol and ethanol safety requirements Updated guidelines incorporate IMO hydrogen rules and new structural standards for alcohol fuel tanks.

		MacGregor wins cargo handling contract for six LNG-powered boxships at Cochin Shipyard CMA CGM container vessels are scheduled for delivery between 2029 and 2031.

		Estonia launches biomethane-battery workboat for state fleet 38-metre KRATT is said to be the first vessel of its kind in the region.

		Yang Ming completes first LNG SIMOPS bunkering for YM Willpower in Shanghai Dual-fuel boxship receives 2,000 tonnes of LNG during simultaneous cargo operations.

		AYK Energy and Gebhard Electro secure two vessel electrification contracts A new dredger and a patrol vessel retrofit form the latest battery projects for the duo.