The marine industry's January 2020 shift to using very low sulfur fuel oil ...
FILE PHOTO: Capesize dry-bulk ship, the Great Tang, takes on bunker fuel in the Sing Straits from the Kantek 2 bunker barge December 17, 2017. REUTERS/Roslan Khasawneh
The International Maritime Organization ’s mandated switch will require fuels to have a sulfur content below 0.5%, compared with 3.5% now. It aims to improve human health by reducing air pollution from sea-going vessels. Conversely, prices for high-sulfur fuel oil or bunker fuel, with a maximum sulfur content of 3.5%, will fall as demand erodes, according to the study.
Prices for crude oil from shale fields will benefit from the transition, the study said, and “command a rising price premium, due to a sulfur concentration that is lower than that of oil from other sources.”
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