Singapore Market Commentary (with evening update)

Wed 22 Dec 2010, 09:26 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment closed almost same trend as its Papers value this morning. Fueloil cargo gained by about a dollar per MT, supported by three deals traded. Gasoil cargo concluded much firmer by about USD1.30/BBL, notably with two deals reported.

WTI Access trading is moving up now. Meantime, our bunker indication is revised upward once again on the MDO/MGO, amid average demand.

Morning Commentary

NYMEX Crude price continued to surge last night, eventually gaining another USD0.52/BBL. WTI Access trading is showing steady to marginally firm. Without doubt, it pushed up Papers' market as well. Fueloil paper was pegged higher by 50 US cents PMT while Gasoil paper soared by USD1.20/BBL.

Again, bunker market may be driven further up this afternoon if Cargoes assessment can prove to go along the same direction. Meantime, our bunker indication is revised upward only for the distillates.

MGO Singapore Singapore (SG)


		Avenir lays keel for new LNG carrier and bunkering vessel Marine fuel supplier has commenced construction of Hull No. S-1123 as part of its newbuild programme.

		Aurora Hydrogen secures $3m from Oldendorff Overseas Investments for hydrogen production Investment advances microwave-driven methane pyrolysis technology that produces hydrogen from natural gas.

		Corvus Energy and Beyonder sign MoU to develop maritime battery systems Norwegian companies to explore next-generation energy storage solutions for shipping sector decarbonisation.

		Anew Climate and Avenir complete first joint bio-LNG bunkering in Europe Partnership delivers waste-based bio-LNG from Lithuania to Swedish ferry operator via Klaipėda terminal.

		Flex Commodities changes legal suffix from DMCC to FZCO under Dubai naming framework Administrative change aligns marine fuel trader with new UAE free zone company naming conventions.

		Stena RoRo takes delivery of 13th E-Flexer vessel from Chinese shipyard Capu Rossu handed over to Corsica Linea for Marseille-Corsica route starting mid-June.

		Titan Clean Fuels signs e-methane supply deal with TURN2X for 2028 delivery Bunker supplier to receive e-methane from Spanish production plant for distribution across European ports.

		Japan consortium achieves hydrogen co-firing in main engine for large commercial vessel Engine reaches over 95% hydrogen co-firing ratio, with installation planned for 2027.

		Belgian Trading & Bunkering expands DMA 0.89 truck deliveries in ARA region BTB extends marine fuel offerings with truck-based deliveries to meet maritime market demand.

		ABS convenes roundtable on offshore power barge for Great Lakes emissions reduction Meeting brought together ports, academia and industry to advance shore power solution under EPA programme.