By Srinivas Chowdary Sunkara // petrobazaar // 6th December 2019.
BUNKERING NEWS
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs rose yesterday. IFO 180 cSt and 380 cSt graded futures prices changed a little to settle $4 lower at $331.5 and $301.5 respectively while MGO prices closed $10 up at $586.5 yesterday. Yesterday, The world crude oil benchmark futures prices moved a little to be firm after a sharp upside momentum following the recommendation of deeper product cuts during the OPEC+ meet at Vienna.
IMO-2020 NEWS
Maritime law firm Hill Dickinson has warned that the new IMO2020 global sulfur cap has the potential to pose challenges on great number of issues which may radically impact the liability of non-compliance as reported by ship&bunker. The interesting focus area is when compliance fuel supplies tested just off-spec and just slightly over 0.5%, despite of ordering the compliant fuel and it looks like compliant fuel at the time of indent. It is strongly recommended that time chartered parties and related bunker supply contracts should contain carefully worded provisions to clarify bunker specs, sampling procedures and how the potential loss of time owing to inspections and de-bunkering operations is to be shared.
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