Trafigura, the independent oil trader and one of the world's largest ship charterers, has proposed that the International Maritime Organization introduce a carbon levy of $250-$300/mt of CO2 equivalent on shipping fuels, to make zero- and low-carbon fuels more economically viable and more competitive.

The European naphtha market firmed entering October pricing amid supportive demand from the petrochemicals industry and better market share as a feedstock against LPG.

Container throughput at South Korea's largest container port -- Busan Port -- fell 6% year on year to 1.72 million twenty-foot-equivalent unit, or TEU, in August as global demand remains under pressure due to the COVID-19 pandemic, data published by the country's Ministry of Ocean and Fisheries showed.

0648 GMT: Crude oil futures were stable in mid-afternoon on Sept. 25, as the bullish news that US Congress was working on a $2.4 trillion deal that could be agreed in the week starting Sept. 27 was offset by COVID-19 concerns.

Chinese oil companies plan to keep their October gasoline exports at 1.428 million mt, almost flat from September, while reducing gasoil exports by 5.9% month on month to 1.76 million mt, industry sources with knowledge of the matter said on Sept. 24.

Refined product futures settled higher Sept. 25 as demand outlooks improved amid US stimulus optimism, but resurgent coronavirus cases in Europe weighed on crude prices.

At least eight newbuild VLCCs have been placed on subjects on short-term time charter of up to six months with options to store oil products by global trading companies and oil majors, several shipping industry executives in Singapore, Japan and South Korea said Sept. 25.

The UK will increase the renewable transport fuels obligation (RTFO) buy-out price to GBP0.50/liter (64 cents/liter) from GBP0.30/liter, effective Jan. 1, to incentivize the supply of renewable fuels and prevent the loss of greenhouse gas savings.