By Srinivas Chowdary Sunkara // petrobazaar // 12th March, 2019.
Fuel oil prices in Singapore market rose by $15 or 3.3 pct since 28th of February. Both the 180 cSt and 380 cSt graded fuel oil contracts were traded volatile and settled up at $472.5 and $440.5 as on today while MGO prices were settled down at $612.5 in Singapore market.
The International Energy Agency (IEA) noted that the marine fuel landscape will alter dramatically in 2020 with the advent of the new global 0.50% sulfur cap for bunkers. By 2020, MGO will be dominant fuel choice while HSFO is seen most popular fuel choice currently as per IEA. Although VLSFO is the cheapest compliant fuel available, MGO is seen as the more popular due to reduced availability of low sulfur blending materials to make VLSFO. Good day.
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