The price spread between LSFO and HSFO, a useful measure to calculate how much money will be saved on bunker costs, has narrowed significantly since January making scrubbers a less lucrative option to comply with IMO 2020. In favour of a move into renewables market. On this date, 380 CST HSFO was assessed by Platts at $222.14—a premium of just $70.71/t, which is well down on … Other ports saw even more extreme price rises, such as New York where we moved from 76% in the first half of 2018 to 87% in Q4. Share Copy. in Daily Bunker Report,International Shipping News IMO 2020 will be a big deal. The Seattle housing market is very competitive. 1M 1YR Max. Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. Today morning oil indexes continue moderate downward trend. Webinar: How State Agencies Can Budget For A Recession. There has been speculation that this may be allowable if, for example, suitable fuels are not available or if a scrubber has been ordered, but not yet installed. ... Webinar - Aug, 6, 2020 . The Monjasa Server will be used both for ship-to-ship bunker operations in the region and for transporting cargoes from Fujairah to Dubai, Abu Dhabi and Sharjah. ]: Subscribe for a year or order a 1-month trial. Maurice Elfrink "will pursue his career elsewhere". Of the 477,400 tonnes burned monthly by the three lines, about 278,500 tonnes is HSFO. Gulf Coast HSFO. Fig 1 Expected price difference in high sulphur fuels and IMO 2020 complaint fuels Difference in forward prices between 0.1% compliant gasoil (MGO) and HSFO. The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. Markets Home ... nor as a complement to, real-time market data feeds. The price of spot Singapore 380 cst HSFO, however, was indicated higher at $399.50 pmt on 6 January, and prices had been firmly below $400 over … MGO – USD/MT – 482.07 (-1.51). Click here. Global HSFO prices hit two-year lows this month as IMO 2020 rule is nearing. Brent, … ... At the same time, the drastic drop in demand for HSFO will likely cause prices for HSFO to drop– IEA predicts a 57% drop in demand. Recent weeks have given rise to a surprising phenomenon in many of the world's major bunkering locations. Massive HSFO price drop So, despite the initial investments in refineries and scrubbers, and some non-compliance, a residue surplus of about 400,000 barrels per day is expected in 2020. Ship operators have a choice of 2020 compliance options: 1. With prices now rising, 2021 could see a return of $600/mt bunkers. Source: MABUX, MABUX: Bunker market this morning, Dec.23, 2020, Online Daily Newspaper on Hellenic and International Shipping, This site uses cookies to enhance your user experience. About 40%-65% of their vessels are outfitted with IMO 2020-compliant marine exhaust scrubbers. Global HSFO prices hit two-year lows this month as IMO 2020 rule is nearing. And have released the latest version of their Top 10 Bunker Companies report updated for 2021. Brent for February settlement declined by $0.83 to $50.08 a barrel on the London-based ICE Futures Europe exchange. Price difference between VLFSO HSFO … Singapore: HSFO Sales Rally on Scrubber-related Demand. As of May 2020, the scrubber-fitted fleet stands at 2,893 ships, or 2.9% of the combined fleet in terms of ships, but equal to 15.6% of total fleet when looking at deadweight tonne (source: Clarksons). What about the scrubber guys? Settlement prices on instruments without open interest or volume are provided for web users only and are not published on Market Data Platform (MDP). ), demand and prices of HSFO from November 2019 through June 2020, differentials. Up 7.0 % since last year 0.83 to $ 47.02 a barrel on the York! Next year you agree to our use of cookies % HSFO could go as low as 220/mt. Of our activities in the second half of 2020, before differentials ease later! 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