Scrubber-fitted ships nearly double as fuel spread settles at $118 per MT
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be compliant with the International Maritime Organization’s (IMO) 2020 global sulphur cap that came into force on January 1, 2020, overall bunker sales rose in the world’s by far largest bunkering hub: Singapore.
Total bunker sale volumes grew by 5% in 2020 and have continued to climb in the first two months of 2021 (+2.7% y/y),a n indication of the shipping industry’s ability to deliver all the way through the pandemic.
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