By Srinivas Chowdary Sunkara // petrobazaar // 13th August, 2019.
The World Bunker Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO (Gasoil) in the main world hubs continued to close insignificant irregular yesterday. Singapore Fuel oil 180 cSt, 380 cSt, MGO and MGOLS futures prices remained unchanged yesterday from its previous session. The global crude benchmark futures index changed marginally yesterday amid prevailed unchanged fundamentals on an expectation that major oil producers could curtail more output to support oil prices.
India's state run shipping line, Shipping Corporation of India (SCI) which operates a fleet comprising of 63 ships announced that it will choose Low Sulfur Fuel Oil (LSFO) over emissions abatement equipment in order to meet the global 0.5% sulfur cap on bunker fuel as it will not have a pay back period. Earlier, SCI thought of installing scrubbers on their very large crude carriers and suezmaxes. After studying, The company realised that they will not have a pay back period.
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