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 | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
Popular Now More
-
Nov 27The company is looking for candidates with shipping industry experience and strong negotiation skills. -
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 26The company has hired Mike Parrent, formerly marketing manager for Bomin before its acquisition by Minerva Bunkering earlier this year, as its new physical desk manager in Houston.