Heavy sweet grades run out of IMO 2020 steam

摘要

Heavy sweet crude values are emerging from a second-quarter dip at a lower level than at the start of this year,when the IMO 2020 rules made them all the rage.The drop in demand for very-low sulphur fuel oil(VLSFO)bunker fuel caused by the Covid-19 pandemic has more than halved the gains that heavy sweet crudes made at around the turn of the year.VLSFO margins have come under growing pressure in recent months,amid high stocks in Asia-Pacific and the return to service of vessels equipped with newly installed exhaust gas scrubbers,which allow them to burn higher-sulphur fuel.