IMO2020 behind merger. File image / Pixabay
Oil and commodities trading house Trafigura has merged its fuel oil and marine gasoil trading desks to better respond to the dynamic market ahead of the sulfur cap change to bunker fuel.
Market sources quoted by Reuters said the move was "a prudent step to structure ourselves for future market conditions including in preparation for the upcoming IMO2020 changes among others to ensure better intregration across the bunkering space".
Trafigura's trading desk merger mirrors a similar move by oil-giant BP, which combined its fuel oil and middle distillates desks about four months ago, according to the report.