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Mon 6 Dec 2010, 08:28 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment ended with positive gains for all products, along with Papers surge. Fueloil cargo closed firmer by almost USD3.00-4.00/MT, with six deals traded on screen. Gasoil cargo concluded bullish, in which it soared by about USD2.50/BBL. Two deals were reported on screen. Without doubts, all delivered prices were quoted higher, especially the Distillates. But, WTI Access trading is showing flat with little change ealier. Meantime, our bunker indication is revised upward once again only for the MDO/MGO, amid thin demand so far.

Morning Commentary

Light Sweet Crude Oil futures closed with another positive gain last Friday by USD1.19/BBL. As expected, Papers market was pushed higher today. Fueloil paper opened firm by about USD6.00/MT while Gasoil paper was pegged bullish by almost USD2.35/BBL.

With this, Bunker market will possibly be selling more expensive as well. However, we shall see how Cargoes trading will react later in the day. Meantime, our bunker indication is revised upward for all grades.

MGO   Singapore  Singapore (SG) 
CMA CGM Notre Dame vessel at Singapore Port. Singapore 12-month bunker calls hit all-time high in July  

TTM calls at world's largest bunkering hub reach record levels despite softer sales volumes.
Cargo port in Singapore. Singapore T3M bunker sales stay below 14m tonnes for fourth month running  

Rolling three-month volumes remain subdued despite modest month-on-month recovery in July.
Shore power system launch at Port of Callao. Peru’s Port of Callao launches first shore power system in Latin America  

DP World Callao’s onshore power supply system could cut over 6,300 tonnes of CO₂ annually.
Aristodimos vessel. New Times Shipbuilding delivers LNG dual-fuel crude oil tanker to Capital  

Chinese yard hands over 155,500-dwt vessel in ceremony attended by owner’s representative.
MSC Sabrina and Alice Cosulich ship-to-ship (STS) bunkering operation. Shell completes maiden LNG bunkering operation in Valencia  

Delivery to MSC vessel facilitated by Fratelli Cosulich said to be first-ever LNG bunker supply at Spanish port.
Marina Bay Sands, Singapore. PIL hiring senior marine fuels executive to manage global bunkering operations  

Singapore-based role includes oversight of fuel procurement and delivery operations, covering PIL's fleet of container and multi-purpose vessels.
Steel-cutting ceremony of vessels with builder's hull nos. CHB2083 and CHB2084. Changhong International Shipbuilding cuts steel on two more 3100-teu boxships for Costamare  

HSFO-fuelled vessels feature scrubbers, SCR systems and shore power connections to meet emissions requirements.
Decab Hub and MMMCZCS logos. Lloyd’s Register and Maersk Mc-Kinney Møller Center launch ammonia safety and training resources for shipping  

New tools aim to help operators build the safety management and competency frameworks needed for ammonia-fuelled vessels.
Kevin Dohmen, IBT Bunkering & Trading. IBT Bunkering & Trading appoints Kevin Döhmen to manage new Singapore office  

Döhmen tasked with developing IBT’s operation in the Asian city-state.
Peak Skarv 3 vessel. Peak takes delivery of third S-class vessel and cuts steel for ammonia-fuelled ship  

Norwegian operator marks two events at Chinese yard as ammonia-powered newbuild programme advances.




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