, causing ship owners to avoid refueling bunker fuel oil in the Middle Eastern area, but to refuel from Singapore instead. Also, supplies in the region tightenesd as most traders have lowered their stocks of

-construction projects Only in case of high-value, time-consuming projects or assignments such as building or ship construction projects, disclose the values of the ongoing projects as of the most recent date

-consuming projects or assignments such as real estate development business, building construction business, ship construction business, etc.). Disclose the values of the ongoing projects as of the most recent

-value, time- consuming projects or assignments such as real estate development business, building construction business, ship construction business, etc.). Disclose the values of the ongoing projects as

the International Maritime Organization’s (IMO) rule that limit the sulfur content of marine fuels to 0.5% come into effect from 1 January 2020. Crack Spreads Situation (Unit: USD/BBL) Crack Spreads Q2

Oil that has successively plummeted prior to the enforcement of the usage of the bunker oil with Sulphur content not exceeding 0 . 5% by International Maritime Organization (IMO) which will start on the

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