By Srinivas Chowdary Sunkara // petrobazaar // 21st August, 2018.
Fuel oil prices slipped by 0.1% on Monday after a moderate recovery of around 0.42 pct during the week end. Last week, Both the fuel oil 180 cSt and 380 cSt graded fuel oils were shrank in Singapore market by 1.31 percentage. The Industry anticipated higher arbitrage flows into Singapore while the improved supplies suppressed bullish sentiment. Shortage of finished grade fuel oil and contaminated bunker fuels are extending support in the short term.
The upcoming IMO 2020 global sulfur cap is creating huge market potential for marine scrubbers. The new 0.5% sulfur cap for marine fuels comes into force from January 1st, 2020. The newly introduced thresholds will effect roughly 50,000 vessels.
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