By Srinivas Chowdary Sunkara // petrobazaar // 31st Dec 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs, gained significantly across the world major ports yesterday. In Singapore market, IFO 180 cSt and 380 cSt graded fuel oil futures demonstrated no significant changes and closed flat at $418 and $388 respectively where as MGO futures prices posted $8 gain at $708 yesterday. The world crude oil benchmark futures prices rallied to three months high since Sep, 2017, lifted by an optimism over the prospectus of trade deal along with the upbeat data.
The so-called IMO-2020 rule comes into force on Wednesday and further a complete ban on the carriage of HSFO comes into force from March 1st 2020. Now the question is that whether ships looking to blend any remaining HSFO onboard after the 0.5% sulfur cap comes into force, rather than debunkering it, could face running the compliance problem?. The answer is any vessel blending onboard may have no way to show authorities they were complying with the new cap.
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imo news courtesy:ship&bunker