China's most-active fuel oil contract rose 4.00% intraday to 3,042 yuan/ton.

Incoming Panama Canal Authority administrator says there are currently no plans to reduce vessel transits.

July 8 — The Institute of Marine Development Strategy under the Ministry of Natural Resources published a bilingual report, A Historical and Legal Critique of the Philippines' South China Sea Territorial Claims, concluding Manila has sought to extend territory beyond treaty-defined boundaries to include Scarborough Shoal and parts of the Spratly Islands. The report said these expansions lack basic historical evidence and contravene international law on territorial acquisition. It is the first comprehensive assessment and systematic critique of Philippine claims by a Chinese state-affiliated research institute.