The mid-size gas carriers, or MGCs, are slated for delivery in 2022 from Hyundai Mipo Dockyard.

"I'm also happy that loading in Norway confirms our competitiveness in the North European LNG environment," Granqvist said.

"The quality part of the new blended fuels has been quite satisfactory," Neo said.

"The contract will be launched soon after the public consultation and a short period of practice trading," a source said.

180 CST HSFO demand from the power sector is holding those prices relatively steady, a trader said.

The company has inked an option for a further 50 installations for their fleet next year, IWSA said.

The latest provisional data for April also showed that gasoil exports were up 15.1% on the month.

Many of the smokestack refiners in the northeastern province of Shandong used questionable credit practices.

Russia on Monday introduced a temporary ban on imports of oil products, including gasoline, diesel, and jet fuel, until October 1 to protect the domestic market again imports of cheap fuel, mainly from Belarus.

Participants in the European 0.5% sulfur marine fuel market have been eying the possible signs of firming market sentiment in the coming weeks, as national lockdown restrictions from the coronavirus pandemic begin to ease in Europe. However with refinery runs in Europe starting to increase, supply-side pressure is expected if demand does not pick up fast enough.

Crude futures settled higher amid signs that the continued reopening of economies in the US and Europe could bring balance to oversupplied oil markets in coming weeks.

The Asian marine fuels market was unlikely to see any significant uptick in the ensuing days, said traders. Despite initial signs of a gradual pick up in demand, a less-than-upbeat market sentiment was underpinned by a supply overhang.

Vessels heading to Asia from Europe are taking advantage of cheaper marine fuel prices and sailing the longer voyage around the Cape of Good Hope to avoid transit tolls through the Suez Canal and take advantage of a backwardated crude market, shipping sources said.