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...]

Sulphur-Sniffing Drone to Sniff Out Polluters in Danish Waters

Authorities in Denmark have deployed a large sulphur-sniffing drone to literally sniff out ships breaking EU rules governing the sulphur content of marine fuel. The drone is being used by the Danish Maritime Agency to monitor ship emissions around the area of the Great Belt, where a number of large tankers transit to and from the Baltic Sea. The first aerial sulphur emission … [Read more...]

With an Eye on Trump, Refiners Tout IMO 2020 as U.S. Win

By Stephen Cunningham (Bloomberg) -- U.S. oil refiners, in line for a windfall from new ship-fuel rules, are taking steps to lock in the change quickly, concerned it could fall victim to President Donald Trump’s re-election push. Under the new rules, many shippers will switch to low-sulfur fuels, boosting competition and, potentially, increasing the price of diesel, jet fuel … [Read more...]

Australia’s Heavy-Sweet Crudes Surge Ahead of IMO 2020

By Florence Tan SINGAPORE (Reuters) - Prices for Australian heavy-sweet crude grades are rising as traders snap up cargoes for blending ahead of new rules on shipping fuel, putting them among the most expensive crudes in the world. The high premiums are benefiting producers such as BHP Group , Santos Ltd and Inpex Corp, which sell grades such as Pyrenees and Van Gogh … [Read more...]

IMO 2020 Seen Boosting Oil Demand

By Bill Lehane (Bloomberg) -- Global oil demand is about to get a boost from a rule that’s supposed to help the environment. The world’s refineries will need to process about 700,000 barrels a day more oil by next year directly as a result of a rule to cut the maritime industry’s sulfur emissions, according to refining analysts interviewed by Bloomberg. The extra supplies … [Read more...]