UAE-based Brooge Petroleum and Gas Investment Co (BPGIC) has unveiled a plan to build a 250,000-barrels per day (bpd) capacity refinery to produce IMO 2020-compliant bunker fuel in Fujairah.

Italian refiner Saras plans to build a new bunkering terminal at its plant on the island of Sardinia in a move to supply low sulphur marine fuel in view of the upcoming IMO 2020 regulation.

Four days after the center, or “The Eye” in weather-speak, of Hurricane Harvey slammed into the Texas coast, torrential rains were continuing to fall. Some parts of the Houston area were getting upwards of 50 inches of rainfall, putting this disaster squarely into the record books for “most” and “worst”.

The product tanker market is going through challenging conditions but a combination of factors could see a bounce back towards the end of the year leading ceos in the scetor believe.