By Srinivas Chowdary Sunkara // petrobazaar // 25th August, 2018.
Fuel oil prices in the Singapore markets are broadly steadied through out the week. Both the IFO 180 cSt and 380 cSt graded fuels oil prices were closed with a weekly gain of $10 or 2.07% from the previous week . MGO prices rose sharply with $30 during the week. Dragging inventories to the lowest in more than nine years and higher deal values are behind the bullishness at the weekend.
Turning to Industry news, Implementation of 0.5 percent cap on sulphur emissions has created uncertainty among vessel operators. They need to understand that fuel selection is not only the factor that ensures compliance. They must plan around the fuel availability at ports. unless a vessel is fitted with a scrubber, operators need to ensure that HFO is completely to be removed through cleaning. if not, retained sediment from the existing HFO will likely contaminate the complaint fuel.
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