In the first quarter of 2021, high-sulphur fuel oil (HSFO) has been the only bunker fuel to experience year-on-year growth in Singapore, the world’s largest bunkering hub, data from BIMCO shows.
HSFO sales are up 47.2% from Q1 2020, reaching 3.1 million tonnes.
IMO 2020 Sulphur CapThis is, however, still less than a third of high-sulphur fuel sales in Q1 2019, before the IMO 2020 Sulphur Cap came into force.
The 1 million tonne increase in HSFO sales exceeded the fall in low-sulphur fuel oil...