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Can the Los Angeles-Shanghai green shipping corridor save the sector and the planet?

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Asia fuel oil market outlook may hinge on severity of China demand loss

The global fuel oil supply chain has in the recent past been impacted by tight product availability due to the war in Ukraine and the subsequent restrictions on Russian oil purchases. The Asian fuel oil market, which accounts for roughly half of the global marine fuel demand, has been severely stretched too. One of the most significant incidents of fuel contamination in recent history at the world's largest bunkering hub Singapore has only exacerbated the tight supply situation.Not surprisingly then, Asian fuel oil market participants have been closely monitoring the evolving demand-supply dynamic in China, a major producer-supplier of marine fuel. They are tracking not only the impact from oil demand loss, but also, how it may potentially sway the government's decision on the timing and quantum of the second round of fuel oil export quotas.In this podcast, S&P Global Commodity Insights' Rajesh NairAtsuko Kawasaki and Zhuwei Wang discuss the various scenarios that are likely to play out and its impact on the Asian fuel oil market.Related Infographic: Markets brace for oil, gas demand destruction as China pursues zero-COVID policyMore listening options:

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Bunker and Shipping Summit

June 15-16, 2022 | 08:15 am - 05:30 pm SGT | SingaporeAsia Bunker and Shipping Summit We are excited to host the Asian Bunker & Shipping Summit in person, in Singapore, on June 15-16, 2022. The Summit will be focusing on everything bunker and shipping; from outlooks, regulation deep dives, analysis of the effects of energy transition, what options we have in fueling our ships from traditional bunker fuels to alternative fuels, and more.Attendees will include refiners, traders, ship owners, charterers, end-users, analysts, risk managers, brokers, lawyers, regulators, and policymakers, among many others. Since the implementation of IMO 2020 and the start of the pandemic, container rates have soared to unrecognizable levels, far surpassing previous all-time highs. With delays and vessel queues mounting, and a broader shift from 'just in time' shipping to 'just in case', the trailblazing container market, which is paving the way with future fuel adoption, is balanced on a knife-edge.On the other hand, tanker markets are sailing into headwinds with spot freight rates plummeting to levels that barely cover operating expenses of shipowners. Although oil demand is starting to revive, the OPEC production cuts have dried up cargo volumes for the tanker market. Daunting challenges are on the way with new decarbonization regulations expected to kick in soon. The bunker industry has had its own challenges as it grapples with the pandemic, with transparency, energy transition, efficiency through digitalization, and aiding shipping’s decarbonization journey being key themes in a landscape where there is intense competition and margins are being squeezed.On June 15-16, the Asian Shipping & Bunker Summit will host leading market participants in the region to discuss the top challenges and risk response strategies to help you stay at the forefront of the market.Register by March 25 to save $300 on your ticket. Receive a complimentary ticket when you register 4 pax for the event! Contact us to find out more.REGISTER NOW

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Asia residual fuels: Key market indicators for April 11-15

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Weather delays, closed gasoline arb slows USGC clean tanker tonnage replenishment

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Ukraine increasingly stretched for fuel after infrastructure assault

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Singapore MPA steps in to curb bunker fuel quality issues

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CONTAINER PREMIUMS: Rates strengthen to US East Coast as shippers seek to avoid US West Coast

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USGC-Transatlantic tanker rates surge as majors replace Russian crude with US barrels

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USGC-Transatlantic tanker rates surge as majors replace Russian crude with US barrels

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