Seagate Stock Jumps as AI-Fueled Earnings Beat and Strong FY2027 Outlook Impress Investors 
Barclays Q2 Profit Beats Forecasts as Investment Banking Strength Offsets Higher Costs 
GSK Unveils $2.52 Billion Cost-Cutting Plan to Accelerate Drug Pipeline 
TSMC Gradually Restarts Japan Chip Plant After Kumamoto Earthquake 
SK Hynix Q2 Profit Hits Record as AI Memory Chip Demand Fuels Growth 
Exosens H1 Profit Beats Forecasts as Defense Demand Drives Growth 
Rio Tinto Stock Jumps as Strong Earnings, Higher Dividend and AI Metal Demand Boost Outlook 
Stellantis Sells Free2move Car-Sharing Business to Mutares to Strengthen Core Auto Strategy 
Galp Shares Fall After Q2 EBITDA Miss Despite Profit Beat and Higher Dividend 
Tech Stock Positioning Nears Neutral as Investor Rotation Enters Final Phase, Deutsche Bank Says 
Serica Energy to Acquire Pharos Energy for £145.7M, Sending PHARP Shares Soaring 
CATL Shares Jump as $5.6 Billion Buyback Signals Confidence in Long-Term Growth 
BHP, Port Hedland Unions Fail to Reach Wage Deal as Negotiations Continue 
Standard Chartered Beats Profit Forecasts as First-Half Earnings Rise 9% 
Philips Shares Slide 10% Despite Earnings Beat as Weak Orders Raise Growth Concerns 
Air Liquide Q2 Sales Growth Tops Forecast as Electronics Business Drives Strong Performance 
X Challenges Australia’s Expanded Social Media Ban Enforcement Powers 
An anticipated 7 to 17 percent drop in global demand for marine fuel is expected to lead to further mergers and acquisitions or attrition in the industry, says International Bunker Industry Association (IBIA) director, Unni Einemo.
Firms have to deal with low demand, low margins, increased counterparty risk, and constrained access to capital.
The International Energy Agency expects fuel oil demand, which includes marine bunker and power generation and industrial uses, to decline by 0.4 million barrels per day (mbpd), or 6.3 percent in 2020.
In contrast, premium transport fuels, such as jet fuel, diesel, and gasoline, are forecasted to have lost about 7.4 mbpd, or 11.6 percent, of demand in 2020.
Most bunkering markets are seeing a big year-on-year contraction, with some between 30 to 40 percent, notes Einemo, adding that Singapore is among the least affected markets.
Singapore, the world’s top bunkering hub, enjoyed year-on-year growth in marine fuel sales every month except May and June, with each contracting by 2 percent.
Singapore has the widest variety of fuels on offer and is known to provide the right quality and quantity.
But in other hubs such as in the UAE’s Fujairah, bunkering demand plummeted due to the impact of the pandemic on shipping activity.
