Asia/Pacific News
India Refiners Look to Charter Tankers for IMO 2020 Product
India's state-controlled Bharat Petroleum Corporation Ltd (BPCL) and Indian Oil Corporation Ltd (IOCL) are each looking to charter a tanker to bring low sulfur bunker fuel into the country as part of preparations for the 0.50% global sulfur cap on bunker fuel that comes into force in 2020, local media reports.
BPCL are looking to hire a VLCC and IOCL a Suezmax carrier, for up to seven years, according to The Hindu Business Line.
An industry official was quoted as saying there was no incentive for local oil refiners to produce compliant low sulfur bunkers.
While the IMO 2020 regulations permit higher sulfur content bunkers to be used if the vessel is fitted with a scrubber allowing it to achieve an equivalent level of compliance, come January 1, 2020, most vessels are expected to be burning a compliant 0.50% maximum sulfur fuel.
