KPI Bridge oil, an oil trading and brokerage company, said for the first time, the company sold more low sulfur fuel oil in line with the new IMO 2020 regulations than high sulfur fuel oil.
"We have been providing 0.5% sulfur fuel supply in some ports since the second quarter, and as expected, such demand is steadily increasing," CEO s ø Ren h ø ll said in a statement
Although the vast majority of ships will use 0.5% sulfur fuel oil, it is not clear when to start. For example, Singapore is currently the world's largest fuel filling port, accounting for about 20% of the world's total. The latest data released in October shows that 15% of the total sales volume is low sulfur fuel.
Recent uncertainties have led to significant market volatility, but with more expensive fuel sales rising, H ö ll expects the current shortage of available credit lines in the market to continue into 2020.
"In the final stage of the transition to the new IMO 2020 fuel oil, with the adjustment of the market, the prices and reserves of most ports in the world will fluctuate significantly," he said Source: Ship & bunker