China's oil companies lifted exports of oil products -- gasoline, gasoil and jet fuel -- by 20.2% on the year to 55.36 million mt in 2019, having utilized 98.9% of oil product export quotas available during the year, according to data released by General Administration of Customs late Thursday.

Japan looks set to boost kerosene exports in coming weeks during the peak winter heating demand season as refiners find it difficult to cut crude runs sharply in spite of lower heating demand amid unusually warm weather.

Singapore's commercial onshore residue stocks edged 0.4% higher week on week to 22.818 million barrels in the week of January 16-22, nearly a seven month-high, according to Enterprise Singapore data released Thursday, amid weak bunker fuel demand.

The continuing narrow price spread between marine gasoil or MGO and 0.5% sulfur bunker fuel is prompting some shipowners to steer away from burning residual fuel oil, industry participants said Friday.

International Bunker Industry Association (IBIA) visited various shipping and bunker participants in Copenhagen earlier in January and said players reported "a surprisingly smooth transition" to the International Maritime Organization's revamped sulfur regulations for marine fuel.

The story is similar in Asia, the second largest market for US-sourced cargoes, where the price of delivered gas has also declined significantly.

Concerns loom over an expected longer-term supply shortfall and the growing pressure to address climate change.

Clean and dirty tanker freight are expected to be strongly supported in 2020.

The strong economic incentive has lured many to low-viscosity distillate fuels.

Most sellers were opting for delivered rather than ex-wharf sales due to stronger delivered margins.

Signatories of the Poseidon Principles represent around $140 billion in loans to international shipping.

The 150,000 b/d Nembe Creek Trunk Line to the terminal has come under repeated attack from militants.

"This year they (new projects) are likely to be more tankage (mixed products and crude) and refinery," Hamoudi said.

"We can produce up to 25,000 mt [IMO 2020 compliant fuel] at Vizag refinery a month depending on requirements," a company official said.

The LNG bunker vessels will have storage capacity of 7,600 cubic meters, it said Tuesday.

"The next important target is fast approaching, when carrying non-compliant fuel oil on board ships becomes prohibited on March 1, 2020," Lim said.

While in the port, vessels fitted with hybrid type of scrubbers should switch to the closed-loop mode of operations, it said.

As a result of the full 13% VAT rebate, the Yuan 1,218/mt ($176/mt) consumption tax on fuel oil will also be refundable.

The notice pertains to Bahraini and foreign flagged vessels calling at Bahrain's ports or operating in Bahraini waters.

Full decarbonization by 2050 will require further investments of some $400 billion over 20 years.