Low bunker fuel prices bittersweet for shipowners as global trade volumes fall

Bunker fuels and covid-19

The shipping industry, skating on razor-thin margins, is drawing solace from cheaper bunker fuel prices caused by the coronavirus pandemic.

But the jury is still out on whether this will offset weaker shipping demand, which has infected key routes globally after decimating those in Asia.

As the coronavirus pandemic takes the chair out from under global oil demand, marine fuel price surges from the IMO 2020 rules are a distant memory for the maritime industry – even though they only took effect...

https://blogs.platts.com/2020/05/21/bunker-fuel-price-shipowners-global-trade/

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