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High-Sulphur Fuel Soars to 24% of All Oil Sales in Singapore


Almost 25% of total bunker product sales in Singapore refueled ships that are scrubber-fitted high-sulphur fuel oil (HSFO) in July, thereby reaching the level that is greatest of HSFO sales so far in 2020 with 24% of total bunker sales – or 988,000 tonnes.
Despite general uncertainty in the markets, and need that is low shipping, total bunker sales in Singapore reached a four-months high in July. The month showed a 7% development as a whole bunker sales compared with all the period that is same year, and 8.5% growth from last thirty days, with total July bunker sales reaching 4,157.7 thousand tonnes.

“Some pundits argued that the IMO 2020 sulphur legislation will function as the demise of high-sulphur fuel oil for the shipping industry that is worldwide. BIMCO argued differently, plus the known fact that high-sulphur fuel oil item sales now accumulate to 24% of total product sales has perhaps maybe not taken us by surprise,” says Peter Sand, BIMCO’s Chief Shipping Analyst.

“In fact, we anticipate that the share taken up by high-sulphur fuel oil sales will continue steadily to increase as this advances, due to a larger share of this fleet getting scrubber-fitted,” Sand says 12 months.

Low-sulphur fuel oil refuels the lions’ share of the fleet
Execution of the IMO 2020 sulphur that is global saw a major interruption in the share split between high-and low-sulphur fuel oil, with the latter burning up 84% of the share in February. The share of total sales occupied by the fuels that are low-sulphur declined to 76% in July in recent months. The change mirrors the increase in the amount that is real of fitted with a scrubber. Almost 25% of total bunker product sales in Singapore refueled ships.


Dayanira Munoz

With experience in the finance industry exceeding 7 years, Dayanira’s impressive CV includes key positions at leading companies such as Merrill Lynch, Credit Suisse, and Morgan Stanley. She has held a wide range of key roles across research, sales, and trading, and has worked with both retail and institutional clients. Over her blossoming career, Dayanira has gained extensive exposure to equities, the Forex, and fixed income markets, putting her in a unique position. This varied and specialized experience allows her to provide expert insights, suggestions, and risk-management strategies for colleagues and clients. Previously, Dayanira graduated in Applied Finance at the University of Barcelona and is currently studying for her Master’s degree.

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