Very Low Sulfur Bunker Market Takes Shape in Istanbul

Tuesday October 8, 2019

Turkish bunker supplier Petrol Ofisi made its first sale of 0.5% sulfur bunker fuel late last week in Istanbul.

The stem was for 100 metric tonnes (mt) at $560 per mt, market sources said.

Bunker traders active in the Turkish port said the setting the price of the IMO2020 grade fuel would rest on a range of factors with marine gasoil values expected to hold sway.

Further stems of very low sulfur fuel are likely to happen this week, sources said.

As the bunker market gears up for the switch to low sulfur fuel, the shape of that demand is expected to become visible during the last quarter before the spec change.