By Srinivas Chowdary Sunkara // petrobazaar // 11th June, 2019.
Fuel Oil (F.O) futures prices in Singapore markets edged down yesterday while MGO prices rose. Both the 180 cSt and 380 cSt graded fuel oil prices were closed $1 down to $426.5 and $394.5 respectively where as MGO prices rose $3.5 to $561.5, Yesterday. Crude futures closed marginally lower due to prevailed uncertainty on the supply side along with the general fear over slowing economy and demand across the world.
A Galp executive said that the VLSFO will be the fuel of choice as it is very competitive. Goncalo Caeiro said at the Portuguese refiner's annual industry event in Lisbon last week that its 0.5% sulfur bunker fuel will be similar to the existing fuel oil with minor difference. One of the difference will be variation in the fuel's viscosity, which could range between 200-230 centistokes(cSt). The International Maritime Organisation (IMO) – compliant fuel will have vacuum residue and that all blending components used in producing the IMO-2020 compliant bunker fuel will be produced in house as per Caeiro.
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IMO News courtesy:ship&bunker