Fuel Market Calm Ahead of IMO 2020 Deadline

By John Kemp LONDON, Nov 29 (Reuters) - Fears about a shortage of diesel and other middle distillates stemming from new marine pollution regulations have receded, with distillate premiums falling to some of the lowest levels for two years. From the start of 2020, ocean-going ships will be required to use low-sulfur fuels or employ exhaust gas cleaning systems, known has … [Read more...]

Shell Traders Post $1 Billion Profit in Fuel Oil Market Ahead of IMO 2020

By Javier Blas and Alaric Nightingale (Bloomberg) --Royal Dutch Shell Plc has made $1 billion from trading fuel oil this year, making it one of the standout winners from rules designed to make the shipping industry greener. Shell said last month that it made substantial money in fuel-oil trading in the third quarter, but the company didn’t disclose the size of the profits. … [Read more...]

France Urges Tax on Ship and Airplane Fuel

By Leigh Thomas PARIS, Oct 15 (Reuters) - France wants the European Union to work on creating a tax on airplane and ship fuels as part of a push to rein in carbon emissions, French Finance Minister Bruno Le Maire said on Tuesday. Le Maire said the tax would complement plans supported by France and Germany for a carbon border tax that would shield European companies from … [Read more...]

Singapore Stockpiles Boatloads of 2020-Compliant Fuel

By Roslan Khasawneh SINGAPORE, Oct 3 (Reuters) - Singapore stockpiles of low sulphur marine fuels held in floating storage are swelling ahead of a 2020 global deadline for rules that are said to mark the shipping industry's biggest fuel transition since it moved from burning coal to oil. The International Maritime Organization (IMO) has banned ships from using marine fuels, … [Read more...]

New Low-Sulphur Marine Fuel Trade Begins in Singapore

By Roslan Khasawneh SINGAPORE, Sept 25 (Reuters) - S&P Global Platts on Wednesday reported the first physical cargo trade for low-sulphur fuel oil (LSFO) with a maximum 0.5% sulphur content in Singapore ahead of a sulphur cap by the International Maritime Organization (IMO) next year. The milestone trade comes ahead of the IMO regulations that will reduce the permissible … [Read more...]