EMEA News
IMO2020: Energy Petrol Inks Istanbul's First 0.50%S VLSFO Contract
Turkish physical bunker supplier Energy Petrol has signed the first contract for IMO2020 grade VLSFO supply in Istanbul.
"After announcing the first 0.5% sulfur VLSFO avails starting October 1st we have received great responses from the market and already concluded a contract for supplies in October," Sales Director Deniz Muhtaroğlu told Ship & Bunker.
"It is a modest volume of about 2,500 tonnes, but it's good to start with."
As Ship & Bunker reported earlier this week, Energy Petrol is Istanbul's first supplier to offer IMO2020 grade material in the Turkish bunker market.
As for its post-2020 supply plans, exactly how many scrubber-equipped vessels will be in the water come 2020 is still unclear, and the additional complication of a highly volatile price environment in many ports means the demand outlook for traditional bunkers is far from certain.
"We are able to provide the market with HSFO 3.5%S in 2020 but are waiting to see if demand justifies the storage and barge allocation," Muhtaroğlu added.
