By Srinivas Chowdary Sunkara // petrobazaar // 7th June, 2019.
Fuel oil (F.O) futures prices recovered from earlier slump yesterday. Both the 180 cSt and 380 cSt graded fuel oil prices are traded $5.5 up to $413.5 and $381.5 respectively while MGO prices are closed $13 down in Singapore market. The global crude oil benchmark prices are trading higher on stock markets rally and OPEC talk of further cuts.
Turning to IMO-2020 News, Chinese refiner Sinopec has said that 10 of its plants are producing International Maritime Organisation (IMO) compliant bunker fuel. The company expects to be able to produce 10 million metric tonnes(mt) a year of fuel by next year, according to a report by Reuters. Sinopec produced its first consignment of 0.5% sulfur fuel oil in April.
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IMO News courtesy:ship&bunker