A combination of factors is driving the slowdown, including elevated newbuild prices, the cost premium for dual-fuel vessels, and lingering questions over future fuel technologies and regulations.
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Suppliers in South Korea are already shifting to the use of MFMs, and barge fees are likely to rise in the country as a result, a local source tells Ship & Bunker.
Ship & Bunker's G20-VLSFO Index lost $3.50/mt to its lowest level since April 16 on Wednesday.