EMEA News
Bunker Player Anticipates Huge Growth in Distillate Sales for North and Baltic Sea Region
AS Bominflot Estonia Manging Director General Anatoly Belov says that tightening sulfur regulations for marine fuel coming into effect next year will lead to a huge spike in demand for distillate product in the North and Baltic Sea region, according to a report by Russian market specialists IAA PortNews from the VII All Russian Forum "Current State and Prospects for Development of Russian Bunker Services Market" held in Saint Petersburg last week.
Belov predicts that next year the region's diesel fuel market will grow by 10 million tonnes to 13.5 million tonnes.
Currently, all vessels operating within an Emissions Control Area (ECA) must use a marine fuel with a sulfur content not exceeding 1.0 percent by weight.
From January 1, 2015 that limit will drop to 0.10 percent, meaning that the use of low sulfur fuel oil bunkers will no longer be possible without the use of exhaust gas cleaning system (scrubber).
While a number of other compliance options remain available to vessel owners, a survey earlier this year indicated the vast majority are planning to switch to using MGO.
