New ship emission regulations result in costly operational changes for refiners and ship owners and operators. Commonly referred to as IMO 2020, new ship emission regulations issued by the International Maritime Organization require vessels use lower-sulfur bunkering fuel effective January 1, 2020. This means a new, lower sulfur fuel oil must be created, plus prices for low sulfur product will likely rise as demand will be high and supply low.
With too little time to build the number of process units needed to convert high-sulfur fuel oil to the new 0.5% spec, a new fuel must be blended with existing lower sulfur material to create the IMO 2020-compliant 0.5% very-low sulfur fuel oil (VLSFO). This new demand for ultra low sulfur diesel (ULSD) is expected to be much higher than high-sulfur fuel because of limited supply and high demand.
You can find a calculated price for this new 0.5% very-low sulfur fuel oil (VLSFO) in the Global Marine Fuels Report. This report also provides assessed prices of currently used high-sulfur bunkering fuels in the most important ports around the world. And – only found in the Global Marine Fuels Report – OPIS benchmarked ultra-low sulfur diesel (ULSD) rack prices in key North American markets, plus ULSD spot prices for Gulf Coast, New York Barge, Los Angeles, and the Pacific Northwest.
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IMO 2020 is here. Ship owners, refiners, suppliers and fuel managers need reliable price transparency found in the OPIS Global Marine Fuels Report to make cost-effective decisions regarding their fuel slate and the possible outcome of changes they need to make. The report is published using full-day spot pricing methodology for sound and accurate price data.