By Srinivas Chowdary Sunkara // petrobazaar // 24th July, 2019.
Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO (gasoil) traded lower yesterday. In Singapore, 180 cSt and 380 cSt graded fuel oil prices edged down by $13 to $471.5 and $441.5 while MGO prices dropped by $5 at $591.5 after two days of flat trading. The world oil indexes rose slightly on Persian gulf tensions and expected bullish weekly numbers.
IMO 2020 NEWS
Use of scrubbers is an option to vessels to comply with 2020 cap. ING suggests that the compliant fuel availability may not be too much of an issue as the industry moves into 2020. Looking at the use of scrubbers as a 2020 compliance option, ING acknowledges that issues such as the imposition of open loop scrubber ban by some global ports could act as a brake on uptake. However, the spread between gasoil and HSFO does provide a price incentive for owners to go down to scrubber route. ING notes that the higher sales volume of marine gas oil at the world's largest bunkering hub of Singapore is one indicator of a shift in fuel procurement.
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