Oil futures settled higher Oct. 22 amid fresh hopes for passage of a US stimulus bill and stronger-than-expected jobs data.

HPCL is an occasional seller of HSFO via spot tenders, according to market sources.

The low sulfur fuel oil purchases are in line with the government's aim of importing cleaner gasoil and marine fuel. The country earlier relied on imported 180 CST fuel oil with a sulfur content of 3.5% and is now importing the grade only for power generation.

Singapore's ex-wharf term contracts for November-loading 0.5% sulfur marine fuel were heard settled at a premium of $5.00-5.50/mt over the FOB Singapore Marine Fuel 0.5% cargo assessment, higher than the contract settlements of a $4.00-4.25/mt premium for October-loading contracts, sources said Oct 22.

The European bunkering hub of Rotterdam, the Netherlands, will apply a bunker supplier license scheme from February 2021, according to a document on the port authority's website.

The glut in low sulfur fuels has been a double-edged sword for the shipping industry. It muted the impact of availability and compatibility concerns at the cost of lower prices, which have mirrored the wider crude market since May.

The spread between physical prices for 3.5%S FOB Rotterdam barges in 2019 and 2020 reached as close as $4/mt year on year on Sept. 1, assessed at $257/mt, before the spread widened again.

US crude oil inventories likely edged lower in the week ended Sept. 4 as refinery demand picked up following Hurricane Laura, an S&P Global Platts analysis showed Sept. 8.

The discussion has now pivoted to decarbonization, with methanol potentially set to play a bigger role, Raitt said.

South Korea, which relies on imports to meet all of its oil and gas needs, is making a push towards renewable and clean energy sources including hydrogen, but hurdles such as high costs and political uncertainty could slow progress.

PSO issued the tenders seeking a total 585,000 mt of HSFO and 220,000 mt of LSFO in the first week of October.

Hydrogen and ammonia are the leading candidates to meet cleaner fuel goals, De Stoop said.

MPA has suspended OBS' bunkering licenses until further notice, a MPA spokesperson said.

BW Gemini is the first of 12 VLGCs it has committed to retrofit with LPG dual-fuel propulsion engines at the Chinese shipyard.

GAC Bunker Fuels and Texas-based LNG solutions company Pilot have executed a heads of agreement for the provision of LNG bunker in the proposed Galveston LNG Bunker Port terminal project, GAC said Oct. 20.

Sellers and suppliers have been "focused on quality" and use certificates of quality during their transactions, Coyne said.

All eyes on IMO MEPC meeting in November for further guidance.

The waiver will be applicable to both air and ocean export freight, India's finance ministry said.

"The non-compliant fuel oil on board had sulfur content of 1.38%," AMSA said.

From Jan-Mar 2020, about 96% of the ships that arrived in the Port of Singapore used compliant fuel.