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By Mike Wackett
The bunker market is far from ready for the substantial switch in demand to low-sulphur fuel, when the IMO’s 0.5% cap comes into force on 1 January next year, according to the Marine Bunker Exchange (MABUX).
In an article published by international shipping association BIMCO, the bunker exchange cautions that “shipowners are ready, but the bunker market is not” –adding that reports from oil majors regarding the delivery of LSFO (low-sulphur fuel oil) “are concerning”.
MABUX estimates that the global shipping fleet consumes some 5.3m barrels ...
Comment on this article
Distrait
June 17, 2019 at 2:15 pmLook like refiners are not believing IMO2020 will come in force. What do they will do with extra HSFO stocks :
– sell to another industry ? …then sorry for the planet
– desulfurize unsold stocks ? …then how do they will dispose extra sulfur ?
This long silence gives the feeling that lobbies are still in action hoping some delay before the switch