US ULSD stocks rose 3.55 million barrels to 164.23 million barrels in the week that ended July 3, US Energy Information Administration data released July 8 showed, the highest such inventories have been since the agency began recording the data in the week that ended April 9, 2004.

Crude futures edged higher July 8 on the heels of a mixed US inventory report that showed both crude stocks and refined product demand on the up last week.

A rise in demand for 380 CST high sulfur bunker fuel was expected to support the high sulfur fuel oil market in Japan and South Korea in July, market sources said.

Singapore's ex-wharf term price indications for August-loading 0.5% sulfur marine fuel fell to a discount of $40-45/mt to the Mean of Platts Singapore 10ppm gasoil assessments amid oversupply of low sulfur bunker fuel, sources said on July 8.

Chinese imports of low sulfur marine fuel for domestic bonded bunkering are expected to drop significantly in the second half of the year as refiners raise production in order to meet their export quotas, market sources said July 8.

Commercial development, widespread adoption likely to take time

Most of the owners are currently offering their ships for voyages into East Africa from the Middle East and India, inclusive of the anti-piracy costs.

The narrow spread between high and low sulfur fuel is likely to define the months ahead.

The emphasis on environmental stewardship and reduction of GHG will certainly continue, Keller said.

CMET purchase paves way for CMES to grow Singapore marine fuel business.

These assessments will be launched at Sydney, Melbourne, Mumbai, Colombo, Kuwait and Khor Fakkan in the UAE.

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"We've been operating now at Fujairah for six years and we see the growth potential," Azizeh said.

The provision of financial assistance will aid the ordinary course of TMD's business operations.

"The non-compliant fuel oil on board had sulfur content of 1.38%," AMSA said.

From Jan-Mar 2020, about 96% of the ships that arrived in the Port of Singapore used compliant fuel.

"As the Korean coastline is not very long, it is efficient to use MGO [marine gasoil]," a bunker trader in South Korea said.

"Only staff on essential duties should be nominated and permitted to travel to offshore/remote locations."

That followed complaints from ship supply companies that they were being prevented from delivering to ships in some ports.