High-Sulphur Fuel Oil Demand To Plunge 60% Next Year

HSFO demand to fall 60% and MGO demand to be more than double next year due to new regulations on shipping fuel.
Demand for HSFO will fall from 3.5 million barrels per day to 1.4 million bpd and demand for MGO will increase from 900,000 bpd to 2 million bpd.
VLSFO demand might reach 1 million bpd in 2020 and 1.8 million bpd by 2024, while MGO demand will peak in 2020 and decrease to 1.8 million bpd by 2024.
About 4,000 scrubbers will be installed by 2020, consuming around 680,000 bpd of fuel...