ExxonMobil starts barge deliveries of LSFO in Tauranga port offshore-energy.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from offshore-energy.biz Daily Mail and Mail on Sunday newspapers.
Ample availability amid less-than-robust demand has led sellers of International Maritime Organization-compliant marine fuel in Singapore’s spot market to make determined offers, which has depressed valuations, making term discussions for the supply of June-loading product a less attractive proposition, traders said. Lackluster interest among buyers to lift contractual volumes due to relatively more attractive prices .
Ample availability amid less-than-robust demand has led sellers of International Maritime Organization-compliant marine fuel in Singapore’s spot market to make determined offers, which has depressed valuations, making term discussions for the supply of June-loading product a less attractive proposition, traders said. Lackluster interest among buyers to lift contractual volumes due to relatively more attractive prices .
More gloom for European refiners on weak margins, new capacity
More European refinery closures and conversions are on the cards for 2021 after dominating the sector in 2020 when the COVID-19 pandemic led to plunging demand for most oil products, with very weak margins and new capacity weighing on the sector next year.
“We are barely 10%-20% of the way in what will close in the future,” according to Jonathan Leitch, Director of EMEARC Consulting at Turner, Mason & Company.
2020 was meant to be so different, with the promise of healthy margins for those refiners in a position to benefit from the introduction of new International Maritime Organization-compliant 0.5% sulfur marine fuel.
More gloom for European refiners in 2021 on weak margins, new capacity | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.