An increased outlet for HSFO comes in the form of sustained demand from the marine fuel sector, despite the International Maritime Organization's sulfur cap reduction for marine fuels.

Rotterdam FOGO bunker spread widens on heating demand

Continued firm bunker prices were compounded by a consistently replenishing tonnage list in both the Atlantic and Mediterranean basins.

Intense competition in the Singapore delivered bunker market that has squeezed margins, particularly for IMO-complaint low sulfur bunker fuel, is limiting the ability of some players to operate profitably, industry sources told S&P Global Platts in the week to Sept. 24.

The scheduled sale of eight of its refineries would leave Brazil's state-led oil company Petrobras in control of around half of the country's annual production of fuel oil and bunker fuel, according to data from the country's National Agency of Petroleum, or ANP.