Singapore Market Commentary (with evening update)

Tue 10 Apr 2012, 08:58 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo lost its earlier gains to close lower by USD 1.50-2.00/MT based on one deal concluded. Backed by two deals on screen, Gasoil cargo extended its loss further losing USD 0.65/BBL of its value. Our bunker indication is revised lower for all grades amid average demand.

Morning Commentary

Crude prices weakened on closing last night but were almost unchanged this morning. Upon opening today, Fueloil paper headed north, gaining USD 1.75/MT however, Gasoil paper was in the opposite direction losing about USD 0.30/BBL.

Our bunker indications remain unchanged except for MDO/MGO, which are revised lower in the meantime.

MGO Singapore Singapore (SG)


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		IINO Lines secures sustainable shipping finance for methanol dual-fuel VLCC Japanese shipowner signs impact financing agreement with Mizuho Bank for alternative-fuel tanker.

		Fluxys Belgium reports EUR74.9m profit as LNG flows surge and hydrogen infrastructure begins Belgian gas infrastructure operator’s 2025 net profit fell 8.8% amid hydrogen and CO₂ investments.

		Shale oil components detected in Singapore marine fuel \| VPS VPS testing identifies 90,000 mt of delivered VLSFO containing Estonian shale oil compounds.

		IBIA chair completes two-year term, citing expansion in regulatory engagement and membership Outgoing chair to remain on Global Board and lead Future Fuels and Bunker Buyers’ working groups.

		LNG and methanol investments risk becoming 'dead ends' for shipping decarbonisation, UCL study finds Research warns transitional marine fuels may lock in fossil infrastructure rather than enabling an ammonia pathway.

		Protasov: Renewable fuel supply could meet shipping demand, but offtake agreements remain a barrier GENA Solutions CEO highlights project pipeline growth but warns regulatory uncertainty hampers investment decisions.

		Wah Kwong takes delivery of first LNG-ready LR2 tanker with Bureau Veritas SMART notation Frontier Venture is first in newbuild series to achieve Group 3 'augmented ship' capabilities.