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Thu 16 Sep 2010, 06:11 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment ended firmer this afternoon. Fueloil cargo went up by about USD1.50/MT with two deals done on screen. Gasoil cargo concluded steady to marginally higher and three trades were reported.

Delivered prices were quoted quite aggressively once again, possibly backed by falling WTI Crude. It once fell to its lowest at USD74.95 a barrel earlier. Meantime, our bunker indication remains unchanged, except the MDO/MGO which is re-adjusted downward, amid average demand.

Morning Commentary

NYMEX Crude price dipped weaker last night to settle at USD76.02 a barrel and WTI Access trading is showing more negative gains this morning. However, Papers market still opened firmer today. Both Fueloil and Gasoil papers were pegged higher by almost USD2.50/MT and about USD1.00/BBL respectively.

In general, these determinants that could possibly influence the delivered price direction still look quite mixed. Meantime, our bunker indication is revised upward only for the distillates.

MGO   Singapore  Singapore (SG) 
Factory Acceptance Testing (FAT) for X52DF-A-1.0 engine. WinGD completes factory testing of ammonia-fuelled engine for LPG carrier  

X52DF-A-1.0 engine tested in China ahead of installation on first of four vessels under construction.
Drift Energy energy-harvesting ship render. RINA awards first approval in principle for energy-harvesting ship  

Drift Energy receives certification for vessel design that generates clean energy at sea.
MSC World Europa vessel. MSC Cruises achieves flag state recognition for verified methane emissions data  

Bureau Veritas certifies actual methane slip values for two LNG-fuelled cruise ships.
IBIA and EENMA MoU signing. IBIA and Greek shortsea shipowners sign cooperation agreement  

The International Bunker Industry Association partners with EENMA to support the marine fuels sector.
Hapag-Lloyd and Scan Global Logistics logos. Scan Global Logistics and Hapag-Lloyd expand biofuel partnership to cut shipping emissions  

Collaboration claims to avoid 8,500 tonnes of CO₂e emissions through second-generation biofuels.
Lapis Ace ship-to-ship LNG bunkering operation. MOL signs first annual LNG bunkering contract for car carriers in Vancouver  

Japanese shipping company secures year-round fuel supply with Seaspan Energy at Canadian port.
Gasum's LNG bunkering vessel Coralius. Gasum’s maritime bio-LNG sales surge from 0.8% to 12.3% in 2025  

Nordic energy company attributes growth to FuelEU Maritime regulation introduced in 2025.
Port Authority of Valencia board meeting. Valenciaport gives LNG bunkering go-ahead to Shell and Axpo Iberia  

Port authority approves two LNG bunkering authorisations as part of its decarbonisation strategy.
Northern Purpose naming ceremony. BSM enters LCO₂ carrier segment with management of dual-fuel Northern Purpose  

Bernhard Schulte Shipmanagement takes over first liquefied carbon dioxide carrier for Northern Lights project.
Anna Cosulich vessel. Fratelli Cosulich takes delivery of methanol-ready bunker tanker Anna Cosulich  

Vessel built in China will head to Singapore to support group's bunkering operations.




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