By Srinivas Chowdary Sunkara // petrobazaar // 29th August, 2018.
Fuel oil prices went up across the market. In Singapore, IFO 180 cSt and 380 cSt graded fuel oil prices spiked by $4 or 0.82 pct from last closing. MGO prices jumped by $10 to $680. The spikes in fuel oil prices are caused by climbing crude prices amid U.S sanctions on Iran and supply concerns. In the light of new IMO regulations, Blend of high sulphur bunker fuel and low sulphur distillates like marine gas oil is considered as an option of fuel by shipping industry pushing the demand for MGO resulting in high price.
Marine Fuel saving technology
The Silver stream System, a lubricating system, which produces a thin layer of micro-bubbles for the flat bottom of the vessel – designed to reduce the frictional resistance between the water and the hull, and thus save fuel will be a key part of the new design's portfolio of bunker saving measures as published in bunker index.
Disclaimer: Views and opinions expressed here are for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com
