EMEA News
IMO 2020: Discounts on 0.5% Sulfur Fuel oil Unlikely
Don't expect any giveaways on the price of IMO 2020 compliant low sulfur fuel oil, price-reporting agency Argus Media has said.
0.5% producers are unlikely to let go of much value on the grade, Argus Petroleum vice president for business development Tracey Vowel told IBIA's conference in Copenhagen.
Vowel said the expectation is that low sulfur fuel producers will seek to keep price levels firmly above production costs, at least, over the short term.
Argus will be publishing new price assessments to reflect changes in the market.
Assessments for 0.5% sulfur fuel oil and 0.1% sulfur distillates are in the pipeline while a 3.5% sulfur fuel oil assessment will remain, she said.
Fellow price-reporting agency SP Global Platts will also be publishing new pricing assessments.
Bunker fuel editor Tom Washington said that Platts will publish its 0.5% sulfur fuel oil barge assessment from January with a 0.5% bunker fuel assessment to follow in July.
