**Container rates to Europe continue to show strength despite Brexit deal **All eyes focused on Chinese New Year to gage Chinese exporting volumes

**Fundamentals point to slow recovery in freight rates **Slower inventory stock draws to dampen tanker demand **Marine bunker spreads to provide little support to scrubber installations

**Rise in scrubber-fitted vessels to boost HSFO demand in 2021 **Saudi Arabia's utility, industrial usage demand key to Asia HSFO prices **Short-term Asia HSFO market seen balanced to long on ample supply

**Industry successfully navigated sulfur cap **Next targets will be even harder **Credit access may get trickier

**Low sulfur bunker demand to reach pre-pandemic levels in Q2 2021 **Supply to likely keep pace with rising demand