By Srinivas Chowdary Sunkara // petrobazaar // 13th Dec 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs spiked yesterday. IFO 180 cSt and 380 cSt graded fuel oil futures prices gained 3.73% from its previous session by $14 to $388 and $358 respectively. Both the fuel oil futures are heading to log in weekly gains in Singapore market. The world crude oil benchmark futures ticked up 1% yesterday after Trump tweet signs for early trade agreement boosted the commodity markets.
Net Calorific value is considered as secondary calculated parameter despite its importance and is not part of the ISO 8217. Density, Ash , Sulphur and water are the other four parameters considered to calculate calorific value. After an analysis of over 5000 samples, It was found that density has biggest bearing on the calorific value, where by calorific value decreases with an increase in density. Considering calorific value values the bunker fuel ahead of IMO-2020.
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
imo news courtesy:ship&bunker