World News
IMO2020: Onboard Data Puts VLSFO Ahead
Very low sulfur fuel oil will be shipowners' go-to bunker fuel next year, according to data from classificaton society DNV GL.
Based on information from the society's own software tool to aid vessel compliance with the IMO2020 rule, 64% of the software's users have selected very low sulfur fuel oil to drive their ships.
In contrast, ships sticking with high sulfur fuel oil drops dramatically, from 82% 2019 to 12% in 2020.
0.5% and 0.1% sulfur distillate fuel use rises over the period from 1% to 6% and 11% to 13% respectively but represents just under a fifth of overall bunker demand in 2020.
Demand for ultra low sulfur fuel oil will increase only marginally -- by one percentage point -- between 2019 and 2020.
DNV GL's ship implementation plan is accessed through its portal veracity and aims to help shipowners prepare their ships for compliance with the global 0.5% sulfur rule on bunker fuel which comes into force on January 1, 2020.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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