Singapore Market Commentary (with evening update)

Wed 18 Aug 2010, 05:48 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed just firmer, possibly within a dollar surge. Gasoil cargo concluded with a hike of USD0.40/BBL and supported with a deal traded. Bunker market was quoting about the same level as the previous day, though some requirements were still diving below expected levels. This could have been backed by the weakening of WTI Crude, showing moments ago. Meantime, our Bunker indication remains unchanged for all grades, amid average demand.

Morning Commentary

NYMEX Crude price recovered by USD0.53 a barrel last night and WTI Access trading is showing steady to marginally weak this morning.

In Singapore, Fueloil paper opened firmer by about USD1.50/MT while Gasoil paper was talked higher by USD0.75/BBL. It seems that the bunker market has shown some signs of climbing its way up after a week of continuous falls. Meantime, our bunker indication is revised upwards only for the MDO/MGO.

MGO Singapore Singapore (SG)


		MCE Marine Surveyors seeks bunker surveyor in Rotterdam amid growing demand Liquid bulk surveyor certificate listed as a preference, as is prior experience in a bunker surveyor role.

		LNG dual-fuel tanker delivered to Capital Ship Management Vessel one of two handed over to Greek operators on the same day.

		Auramarine seeks quality specialist to unify European and Asian management systems Finnish fuel supply system maker is recruiting a quality specialist to harmonise its global operations.

		Navios Maritime Partners takes delivery of LNG- and methanol-ready Aframax tanker 117,012-dwt Nave Orbit features alternative-fuel readiness and energy-efficiency technology.

		PetroChina International seeks bunker sales manager to drive European growth Chinese state-owned energy trader targets ARA expansion with new commercial hire.

		Damen delivers HVO-ready CF 3850 to Lithuania’s Juru Agentura Forsa CF Anja marks the first newbuild vessel in Forsa’s dry cargo fleet.

		Orlen opens marine transshipment terminal in Gdansk Polish refiner's new quay facility can handle up to two million tonnes of products annually.

		Uni-Fuels appoints general manager for new Houston operation Experienced professional Robert Love aiming to expand the company’s presence in the United States.

		Sing Fuels hiring junior supply trader for Singapore operations Role aimed at candidates with one to two years of experience in marine fuels or the wider maritime industry.

		Exmar takes delivery of LNG carrier to serve the bunkering market Vessel to be convered into a floating transshipment unit for specialised LNG bunkering vessels to load fuel.