Floating storage: attractive. File image/Pixabay.
Low sulfur fuel oil components in floating storage are building offshore Singapore and Malaysia, according to price reporting agency S&P Global Platts.
Around 1 million metric tonnes (mt) of material to produce 0.5% sulfur fuel oil is being held in tankers, the report said citing market sources.
Over all, the availability of low sulfur fuel oil materials within the region was relatively limited.
Market sources estimated 200,000-300,000 mt per month of low sulfur material, including components like slurry and and vacuum gasoil, would be traded within the region.