The approaching global 0.50% sulphur cap for marine fuel effective 2020 will likely introduce issues for the global shipping sector, says the executive committee member of energy and commodities trading and distribution firm Vitol.
“It’s going to be more and more difficult to burn that fuel oil with more economies going to natural gas for power,” Chris Bake told Reuters.
“[Lower sulphur] marine gasoil has to build ahead of 2020. At the same time fuel oil will have to build because there is lack of demand but it’s difficult to figure out when that inflection point is,” he said.
A chance by the shipping industry to install scrubbers, which allow vessels to continue using cheaper fuel oil as a bunker fuel, has been missed, he says.
Photo credit: Vitol
Published: 26 February, 2018
‘Economics of the shipping market will be the key driver enabling methanol to be adopted at a higher pace going forth over next couple years as market begins to return to more normal rates,’ states COO.
Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
Variability of sources can affect the stability and performance of biofuel bunkers produced from these feedstocks, in turn leading to difficulties in meeting regulations and industry standards, shares Bryan Quek.
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A blend of standard MGO and biodiesel, MGO B20 is distributed at the company’s floating kiosk CNC 5 which is located off the buoy of West Coast Pier; PS Energy has been stamped with globally recognised ISCC.