Asia Refiners Test the Waters with Exports of IMO 2020-Compliant Fuel

By Jane Chung and Florence Tan SEOUL/SINGAPORE, July 16 (Reuters) - Refineries in Taiwan and South Korea are testing the market for fuels that meet new rules for low-sulphur ship fuel starting next year, exporting some cargoes of very low-sulphur fuel oil (VLSFO) this month. Oil market participants are uncertain what kind of fuel product shipping companies will use to meet … [Read more...]

Report: Shipowners Ready for IMO 2020, But Bunker Market Lags

By Mike Wackett (The Loadstar) - The bunker market is far from ready for the substantial switch in demand to low-sulphur fuel, when the IMO’s 0.5% cap comes into force on 1 January next year, according to the Marine Bunker Exchange (MABUX). In an article published by international shipping association BIMCO, the bunker exchange cautions that “shipowners are ready, but the … [Read more...]

Chevron Readying IMO-Compliant Shipping Fuel Sales

By Victoria Klesty OSLO, June 5 (Reuters) - Chevron plans to bring an IMO-compliant 0.5% sulphur shipping fuel blend to the market by the end of the third quarter, a company representative said on Wednesday. Ships will be required to use fuels with a sulphur content of no more than 0.5% from the start of 2020, down from 3.5% currently, under International Maritime … [Read more...]

Price of Bunker Fuel Surges Ahead of IMO 2020

By Jack Wittels (Bloomberg) -- Demand for the shipping industry’s main fuel is widely expected to collapse like never before in 2020, so it might come as a surprise that its value is soaring. High-sulfur fuel oil at the Dutch port of Rotterdam in January is now trading at about $16 a barrel less than crude oil, close to the strongest in 18 months, according to data compiled … [Read more...]

Hellenic Petroleum Prepares for Tougher Global Marine Fuel Rules

ATHENS, Feb 28 (Reuters) - Hellenic Petroleum, Greece's biggest oil refiner, said on Thursday that two of its three refineries are already compatible with tougher global marine fuel rules. UN agency the International Maritime Organization (IMO) will prohibit ships from using fuels with sulphur content above 0.5 percent from Jan. 1, 2020, compared with 3.5 percent today, … [Read more...]