Bunker sales in Panama climbed for the second consecutive month in August, after a steep fall in June, with high sulfur IFO 380 fuel showing the strongest increase.

Shipowners with Medium Range tankers in the Americas are focusing on keeping positions close to the US Gulf Coast basin for the beginning of the fourth quarter in hopes that seasonal strength typically experienced in October will reoccur, though effects of the coronavirus pandemic and petroleum product demand destruction make for uncertain times ahead.

The Curacao company Refineria di Korsou, which owns the shuttered Isla Refinery on the Dutch Caribbean island, has seized 1.7 million barrels of crude oil and refined products stored by Venezuela's PDVSA there to secure payments of local outstanding debts, sources said Sept. 16.

Container prices on the trans-Pacific route -- which have risen to record highs recently -- typically fall back in October when demand traditionally slows, but this year might be an exception as the shortage of containers in Asia is far from over and likely to persist in coming months, sources said.

US sanctions have deterred all but Iranian tankers from delivering gasoline to fuel-starved Venezuela, and the Trump administration will keep up pressure on the global shipping industry to avoid the trade, a top State Department official said Sept. 16.

The European Commission wants the EU to cut its CO2 emissions by at least 55% on 1990 levels by 2030, up from the current 40%, in a move set to accelerate the switch away from fossil fuels, it said on Sept. 16.

The handover of North Sea oil and gas assets to small independent companies will contribute positively to the energy transition as the new owners focus on maximizing efficiency and reducing emissions, while being held to a higher standard than their predecessors, CEO Mitch Flegg told S&P Global Platts.

The spread between Singapore 10 ppm sulfur gasoil and marine fuel 0.5%S narrowed to a four-month low Sept. 15 amid declining stocks of fuel oil coupled with weaker gasoil market.

Stockpiles of oil products at Fujairah in the UAE dropped for a third consecutive week to the lowest in almost five months, led by declines in marine bunkers and power fuels.

The improvement in fuel quality that accompanies sulfur reduction in refineries means IMO 2020-compliant fuels generate more CO2 in their well-to-wake life cycle than burning high sulfur fuel oil alongside a scrubber, consultancy CE Delft said in a report.

Crude prices settled sharply higher Sept. 16 after US Energy Information Administration data showed US crude inventory draws resumed during the week ended Sept. 11.

About 27% of US Gulf of Mexico offshore oil and 30% of natural gas output remained offline Sept. 16 after Hurricane Sally made landfall earlier in the day, according to the US Bureau of Safety and Environmental Enforcement.

European shipowners pushed back Sept. 16 on a decision in the European Parliament to draft a proposal to include shipping under the EU's Emissions Trading System from 2022.

US crude inventories declined in the week ended Sept. 14 as refinery demand rebounded following Hurricane Laura and imports flagged, US Energy Information Administration data showed Sept. 16.

US crude exports fell by 349,000 b/d to 2.595 million b/d for the week ended on Sept 11, as flows towards Asia jumped, while exports to Europe slid to a three-month-low, data from the US Energy Information Administration and data intelligence firm Kpler showed Sept.16.

The Asian marine fuel market is seeing a gradual but steady shift toward using the marine fuel 0.5% price as a basis for trades rather than the traditional Mean of Platts Singapore gasoil 10 ppm pricing basis, several Asian refiners and traders said Sept. 15.

In the first half of 2020, when COVID-19 severely disrupted global trade activity, container volumes on the Intra-Asia route were undeterred due to the sustained economic growth in the region and its minimal dependence on exports. The same is to be expected for the second half of this year, with volumes steady, if not higher.

Japan sold 2.72 million barrels of bonded bunker fuel oil in July, up 8.8% from June and up 3.8% from a year ago, Ministry of Economy, Trade and Industry data released Sept. 14 showed.

Container carrier Hapag Llyod announced on Sept. 14 new rates, which are $150 per unit higher for both 20-foot and 40-foot containers, for the Indian subcontinent to North Europe trade route, effective Oct. 1.

The sharp volatility in outright crude prices and wild swings in benchmark price spreads have laid the foundation for new oil trade routes across the globe, with suppliers selling cargoes into unusual and new outlets, trading experts said Sept. 15 at the S&P Global Platts Asia Pacific Petroleum Virtual Conference.