"We saw more inquiries in the last two weeks of July as buyers were afraid that crude oil prices would continue to increase," a trader said.

In July, no LSFO/VLSFO traveled to Malaysia from Europe, after 1.72 million barrels, or 29% of exports, made the voyage in June.

September's available container capacity is expected to rise 7% on year, snapping six straight months of lower-than-usual capacities, eeSea said.

R&D to focus on commercialization of an ammonia-fueled ammonia gas carrier, an ammonia floating storage and a regasification barge.

The stubborn build-up of tonnage has kept sentiment weak for Aframaxes, sources said.

"On average, the shelf life is around three months for 0.5%S very low sulfur fuel oils," Bee said.

The differential was last at a premium of $7.80/mt on May 26, Platts data showed.

"Demand has dropped by at least 40% in August," one supplier said.

Stockpiles are now the lowest since April 20 and have declined 21% from the all-time high of 30.71 million barrels on June 1.

YPF, the country's biggest oil producer and refiner, saw its refinery utilization rate plummet to a low of 47% in April.

Petrobras sold 1.78 million cubic meters of low-sulfur diesel in July.

About 3,894 mt of low-sulfur fuel oil, 207 mt of diesel oil and 90 mt of lubricant oil were on board the MV Wakashio.

MPA has also deployed two new patrol launches for flag and port state control inspections.

The summer lull and muted demand for fuel oil compared with pre-coronavirus pandemic levels meant European market fundamentals remained little changed.