Orders for scrubbers to be fitted on ships have increased, and as demand for high sulphur fuel oil plummets there will be enough marine gasoil as well as new ultra-low sulphur fuel oil available to fill the gap. While there is no doubt that this transformation will be a challenge, it will be manageable over time. Some shipping companies may also be reluctant to adopt a new fuel immediately, and would prefer to use MGO until they have confidence that VLSFO will be easily available in ports and stable and compatible with similar grades. The quantity of VLSFO produced will initially be limited to 1 mb/d because of reduced availability of low sulphur blending materials. Many shipping companies will prefer to use marine gasoil (MGO) instead of a new very low sulfur fuel oil (VLSFO), despite its higher price. We also estimate that there will be 4 000 scrubbers installed on large vessels by the end of 2020, consuming 700 kb/d of fuel oil. Demand for HSFO, the main vessel fuel since the 1960’s, will fall from 3.5 mb/d to 1.4 mb/d in just one year. The data reached an all-time high of 1,008.178 Barrel/Day th in 2013 and a record low of 123.307 Barrel/Day th in 1979. Colombia Crude Oil: Production data is updated yearly, averaging 438.354 Barrel/Day th from Dec 1960 to 2022, with 63 observations. Indeed, the bunker fuel demand landscape will change dramatically in 2020. This records an increase from the previous number of 736.205 Barrel/Day th for Dec 2021. Although the shipping and refining industries have been preparing for the new rules for several years, there have been fears of shortfalls when the rules come into effect. One of the biggest shake-ups in the product markets is right around the corner - the IMO 2020 regulation bans high sulfur fuel oil (HSFO) from the bunker pool.
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