Singapore — Asian low sulfur marine fuel market is expected to witness gradual yet steady incremental demand growth in 2021, with sales likely to top pre-pandemic levels going into the second quarter of the year, market sources said.
“Economic activities will recover in Q2, as vaccines for COVID-19 becomes increasingly available; low sulfur bunker demand will rise in line with a recovery in ship movements,” a Singapore-based fuel oil trader said.
After operating at significantly low rates in the second quarter of 2020, the manufacturing industry has been ramping up operations in the second half, which had led to a recovery in marine fuel demand, another Singapore fuel oil trader said. Read more…..
Chart of the Day
William Green, author of the highly rated book “The Great Minds of Investing”, will speak about the most important lessons he has learned in two decades of studying, interviewing, and writing about many of the world’s best investors. He will discuss how you can become more successful — both as an investor and in other areas of life — by reverse-engineering the greatest investors and figuring out how they stack the odds of success in their favor. The goal: to become richer, wiser, and happier.