Namcor's National Oil Storage Facility at Walvis Bay can hold 75 million liters of fuel and has seven tanks, one of which is for 5,000 cu m of fuel oil, according to the company's website.

**Russia, Iraq biggest quota violators through March **Excess output must be compensated with extra cuts **Compensation cuts due by end-September

**Platts Q1 spot rates 32% lower on year **Redistribution of refining capacity bullish for product tankers

**Bottoming LR2 rates attractive for charterers **ULSD inventory on USAC drops to lowest since April 2020

The company cited "new opportunities in the international market" and the "geographical position" of the refinery as contributing factors to its decision.

**Some 113 million barrels of crude in tankers, highest since mid-Nov **Port congestion continues to push Asian volumes higher

**4,006 ships currently fitted with scrubbers: BIMCO **Singapore Hi-5 spread mostly above $100/mt to date in 2021

**Decarbonization to reinforce bunkering hubs **Alternative fuels bunkering planned in key hubs **Fuel quality, supply chain resilience key for buyers

**Demand falls short of supply **Export quotas fail to stem growth

Thailand's April spot residual fuel exports are expected to touch 130,000 mt, up from the typical average of 60,000-70,000 mt/month, sources said.

**Freight rates likely to spike in H2 2021 **Illicit trade in Iranian, Venezuelan crude deferring scrapping **Dual fuel vessels on order ahead of IMO climate goals

"We are still putting ink on paper but are hoping to close in a couple of weeks," Gurnee said.

Vast imports of hydrogen are necessary if Europe and Germany want to reduce CO2 emissions and become climate-neutral by 2050, the companies said.

**Bunker costs look set to rise, trimming profitability **Company purchasing more containers to boost reliability

Carbons offsets are currently just one avenue for the Brazilian company, as it looks to reduce its carbon footprint.

MMTCs have undertaken a range of pilot projects, completed port energy audits and established branch offices.

The ACP said the delay would provide the maritime industry more time to prepare for the change in booking fees

IMRB crucial step to decarbonization.

**License does not apply to 'future fuels' **No mass flow meters yet, decision in 2022

The government expects that the refund could lead to the construction of around 30 units in the next 6-10 years.