By Srinivas Chowdary Sunkara // petrobazaar // 23th July, 2019.
The Bunker Index consists of a range of prices for 180 HSFO, 380 HSFO and MGO ( Gasoil) continued to moderate downward pressure stoked last week. In Singapore, 180 cSt and 380 cSt graded fuel oil prices rose $0.5 to $484.5 and $456.5 respectively while MGO prices went $7.5 up yesterday. The world oil price indexes strengthened above 1% after last week's selling pressure evaporated by the latest episode of geopolitical tensions in Persian gulf.
To achieve compliance with sulfur cap, The P&I standard club is advising members intending to opt for VLSFO ( very low sulphur fuel oil ) or MGO ( Marine Gas Oil) to start preparatory and precautionary steps several months ahead of the regulatory enforcement date. Standard club also reminded members that HSFO ( High Sulphur Fuel Oil) tend to stick to the inside of fuel tanks and pipelines forming layers of sludge and sediments which may contaminate the new fuel loaded, Rendering the fuel non-compliant and pushing emissions above the 0.5% sulphur cap.
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