Singapore Market Commentary (with evening update)

Tue 6 Nov 2012, 06:14 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo was closed higher by USD 4-5/MT, lagging behind earlier gains of paper value. On the other hand, Gasoil cargo surged by USD 2.10-2.20/BBL. Our bunker indication remains broadly unchanged for Fueloil but MGO indication was revised higher.

Morning Commentary

December crude futures rebounded upon closing last night with NYMEX gaining USD 0.79/BBL and ICE Brent gaining more, closing higher by more than USD 2.00/BBL. However, both crude prices remained broadly unchanged this morning.

Upon opening today, paper trades reacted strongly to the bullish crude sentiment, pushing up Fueloil and Gasoil by USD 14.30/MT and USD 2.15/BBL respectively. Our bunker indication in the meantime, is revised higher for all grades.

MGO Singapore Singapore (SG)


		Bunker Holding webinar to compare FuelEU Maritime compliance costs ahead of 30 April deadline Njord-hosted event will examine pooling versus borrowing options using real-world data from the maritime sector.

		Oilmar DMCC seeks bunker traders for Singapore office Marine fuel trading firm is recruiting mid-level and senior professionals to expand Asia-Pacific marine fuels operations.

		Oilmar DMCC seeks senior bunker trader for Dubai operations Dubai-based energy firm recruits experienced marine fuels trader to expand Middle East portfolio.

		Zhoushan Changhong secures orders through 2029 with LNG dual-fuel container ships Chinese shipyard reports full order book as it constructs 19,000-teu vessels for MSC Group.

		K Line secures long-term bio-LNG supply for car carrier fleet Japanese shipping company expects to reduce greenhouse gas emissions by 60,800 tonnes annually.

		Methanol- and ammonia-ready container ship delivered to ONE Approval in Principle obtained from Lloyd’s Register for future methanol and ammonia fuel conversion.

		World Fuel Services and West Coast Clean Fuels launch methanol bunkering across US ports First over-the-water methanol delivery completed in South Florida with Coast Guard-approved procedures.

		Burando Energies appoints Valerie Ahrens as global head of methanol Ahrens brings more than 30 years of energy sector experience to the marine fuels supplier.

		New Sea Generation seeks junior bunker trader in Greece Greek bunker firm advertises role requiring commitment to demanding work schedule and operational responsibilities.

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