By Srinivas Chowdary Sunkara // petrobazaar // 8th Oct, 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs demonstrated a down side revision for last couple of sessions. In Singapore, Fuel Oil futures prices traded low yesterdat for the sixth continuous session. IFO 180 cSt and 380 cSt graded fuel oil prices dropped by $13 to $367.5 and $337.5 respectively while MGO prices are up by $15.5 to $589.5. The world crude benchmark prices were dipped slightly yesterday where as oil indexes opened high today in correlation with over night gains in commodity market and unrest in oil producing nations Iraq and Ecuador.
IMO 2020 NEWS – INDIA'S STAND TO COMPLY IMO-2020 RULES
ship&bunker reported that the uncertainty looming over the India's stand on implementation of IMO 2020 cap despite the country's regulator of shipping, DG shipping taking an apparently clear stance on the matter. Ship owners and operators remain unclear whether use of scrubbers to comply is permitted within the country's territorial waters or not. The uncertainty prevailed since the Singapore has banned the usage of open loop scrubbers and India had yet to develop a national policy on the subject matter.
Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com