EMEA News
Algeciras: 50% LSFO Market Share post-IMO2020
Low sulfur fuel oil will be the biggest seller in the port of Algericas in southern Spain once the 0.5% sulfur cap on bunker fuel comes into effect.
Respol executive Jose Correa put the figure at 50% of the local market while Cepsa sales manager Francisco Diaz put it at 54% for the 0.5% fuel oil grade.
They put marine gasoil's share at 35% and 34% respectivley while the current main grade of bunker fuel, 3.5% sulfur, would vary between 8-15%, according to Argus Media.
From the start of next year, all ships must use bunker fuel capped at 0.5% sulfur or have emissions equipment installed.
Algeciras sells around 2.4 million metric tonnes of bunker fuel annually.
Both oil company executives were participating in Argus Bunker Fuels conference held in Algeciras.
