By Srinivas Chowdary Sunkara // petrobazaar // 23rd May, 2019.
Fuel Oil (F.O) prices continued to fall during the yesterday's session. Both the 180 cSt and 380 cSt fuel oil (F.O) prices closed $6 down at $451.5 and 419.5 respectively. MGO futures lost $5.5. The global crude markets are trading down on bearish news across the market. The product of increased scale and use of modern vessels in container shipping pushed the bunker volumes down in Feb as per reports.
Turning to IMO-2020 news, The Union of Greek Shipowners has largely welcomed IMO's progress at MEPC74 with respect to the upcoming global 0.5% sulfur cap, but says shipowners and operators are still carrying an unfair share of the IMO2020 burden.
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IMO news courtesy:ship&bunker