Global Bunker Fuel To Drop Significantly During COVID-19

  • In effect of COVID-19, global bunker fuel to fall in 2020 with range forecasts between -7% to -17%.
  • Singapore bunker fuel sales, when compared to the same period last year was up 5.3%.
  • The virus has resulted in overall demand destruction for oil, thereby reducing the price of 0.5% sulfur marine fuels
  • The price differential between HSFO and VLSFO averaged $298.90/mt in the month of January.
  • Scrubber installations have also been halted due to several factors.
  • IMO 2020 Transition forces the...

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