When new global rules limiting the amount of sulfur in shipping fuels were annou...
SINGAPORE - When new global rules limiting the amount of sulfur in shipping fuels were announced, marine gasoil , a type of diesel fuel used on ships, was declared the early winner since most types readily met the new 0.5% limit on sulfur content.
Instead, very-low sulfur fuel oil has emerged as a dark horse to challenge MGO as a replacement for high-sulfur fuel oil, with a 3.5% sulfur limit, once the switch begins in 2020. “In Europe and Singapore we’ve been successfully producing batches of VLSFO and we’ve been working hard with our customers to test those and try them. The feedback has been positive,” Sharon Weintraub, the Chief Executive Officer for Supply and Trading, Eastern Hemisphere, at BP Plc told Reuters.
“The concern about quality is not as great as it used to be. It’s being tested left, right and center. Most of the fuels available are stable, fit for use, and in general of good quality,” Lars Malmbratt, General Manager for Bunker Procurement at Swedish shipping company Stena Bulk said on Tuesday on the sidelines of an industry conference in Singapore.
“If all this LSFO can be placed with shipping companies, which is not yet guaranteed given the lack of experience ship owners have with this fuel, diesel will be the loser,” Energy Aspects analysts said in a note last week.
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