HSFO demand surged in June as Middle Eastern countries increased purchases for power plants.

In July and August, an estimated 80 LNG cargo cancellation are likely to keep pressure on the market.

The company last sold 35,000 mt of IMO-compliant fuel oil with 100-380 CST for June 23-July 1 loading from its Map Ta Phut refinery, at a discount of around $40/mt to MOPS 10 ppm gasoil assessments.

The delivered Singapore Marine Fuel 0.5%S bunker premium against the Singapore Marine Fuel 0.5%S cargo values shrank to a near one-month low on July 3, S&P Global Platts data showed, on the back of strong cargo values and weak bunker demand.

An emergence of strong demand, especially during the Platts Market on Close assessment process, helped strengthen the Asian low sulfur marine fuel market.

Commercial development, widespread adoption likely to take time

Most of the owners are currently offering their ships for voyages into East Africa from the Middle East and India, inclusive of the anti-piracy costs.

The narrow spread between high and low sulfur fuel is likely to define the months ahead.

The emphasis on environmental stewardship and reduction of GHG will certainly continue, Keller said.

CMET purchase paves way for CMES to grow Singapore marine fuel business.

These assessments will be launched at Sydney, Melbourne, Mumbai, Colombo, Kuwait and Khor Fakkan in the UAE.

Company maintains 'strong creditworthiness' amid tough markets as it transitions to IMO 2020

"We've been operating now at Fujairah for six years and we see the growth potential," Azizeh said.

The provision of financial assistance will aid the ordinary course of TMD's business operations.

"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.

"As the Korean coastline is not very long, it is efficient to use MGO [marine gasoil]," a bunker trader in South Korea said.

That followed complaints from ship supply companies that they were being prevented from delivering to ships in some ports.

"Only staff on essential duties should be nominated and permitted to travel to offshore/remote locations."