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Mon 22 Aug 2011, 09:41 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment process ended firm this afternoon. Fueloil cargo surged by about USD3.50/MT while Gasoil gained by about USD0.95/bbl. Only a Distillate deal was traded. ICE Brent futures has fallen weak earlier and it is still showing the same as at 1800 hrs local time. However, WTI Access trading has shown some positive hike.

Meantime, our bunker indication is revised upward for the Intermediate Fueloil. MDO/MGO were adjusted downward accordingly as last Friday our system failed to register the changes made. Demand was average till now.

Morning Commentary

Crude futures closed mixed last Friday, notably ICE Brent gained by USD1.63/bbl while NYMEX Crude price dipped marginally instead. In Singapore, swaps assessment for Fueloil and Gasoil opened firm by about USD4.50/MT and USD1.35/bbl respectively.

It is a little too early to tell if Cargoes assessment will follow its Papers' trend. However, Brent futures is showing very weak as at 1200 hrs local time. Meantime, our bunker indication is revised moderately upward for all grades.

MGO   Singapore  Singapore (SG) 
Tsurugidake naming ceremony. MOL holds naming ceremony for fourth LNG dual-fuel VLCC  

Vessel, named Tsurugidake, features an LNG fuel tank with a capacity exceeding 10,000 cbm.
VPS Carbon Reduction seminar graphic. VPS to host Bergen seminar on marine fuel quality, lubricants and decarbonisation regulation  

Free-to-attend event on September 16 will feature speakers from VPS and DNV.
Launching ceremony of Carlotta Cosulich. Cosulich Marine Energy launches third methanol-ready bunker tanker in China  

Carlotta Cosulich launched at Taizhou Maple Leaf Shipyard, leaving one vessel in series still to come.
Carnival Corporation logo. Carnival's CSMART seeks specialist instructor for LNG-as-fuel training in Netherlands  

Role focused on delivering training to through classroom instruction and simulator-based learning.
Port of Galveston. Stabilis Solutions nears 100 LNG bunkering operations at Galveston  

Houston-based supplier highlights its Gulf Coast LNG bunkering record as plans advance for new liquefaction facility.
Central control room at the green methanol plant. Towngas hosts Hong Kong government delegation at Inner Mongolia green methanol plant  

Hong Kong's Transport and Logistics Bureau tours VENEX facility as green methanol capacity scales to 300,000 tonnes.
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.




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