By Srinivas Chowdary Sunkara // petrobazaar // 31st July, 2019.
The World Bunker Index consist of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) changed insignificant yesterday. In Singapore, Both the 180 cSt and 380 cSt graded fuel oil prices inched $0.5 or 0.1% up to $481.5 and $451.5 respectively while MGO prices went up by $5 to $596 yesterday. The world crude oil benchmark price index continued upward evolution for the forth day to its high after July, 15th and set to lose 1-2% for the month.
Intercontinental Exchange, Inc.(ICE) launched a further nine Marine Fuel 0.5% futures contracts in advance of the implementation of the 0.5% sulphur cap by the IMO in January, 2020. Indonesia's Shipping Ministry confirmed the country's decision to waive compliance with the IMO 2020 rule on bunker fuel for Indonesian – flagged ships sailing in Indonesia's territorial waters. However the country has ample supplies of High sulphur fuel oil used for power plants.
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IMO NEWS COURTESY: SHIP&BUNKER