The global fuel oil market is still adapting to the momentous changes forced upon it by the IMO 2020 spec change. JBC ENERGY expects1, as it did in 2017, that fuel oil will remain the primary bunker fuel at least throughout the new decade. That said, the two million b/d shift from high sulphur fuel oil (HSFO) to 0.5% very low sulphur fuel oil (VLSFO) completed in recent weeks has irreversibly fragmented the fuel oil market. This fragmentation is transforming business dynamics by ushering in a new three tier fuel oil market consisting of VLSFO, High Sulphur Straight Run fuel […]
