Europe’s jet fuel traders are worried that the International Maritime Organization’s stricter limits on sulfur in bunker fuel in 2020 will trigger a massive spike in tanker rates, threatening imports that are needed to fuel more than a third of the region’s planes. The market got a preview of what might lie ahead in October, when the cost of transporting jet fuel from the Mideast Gulf to Europe more than doubled from $1.8 million to $5.2 million after the US imposed sanctions on Chinese shipping giant Cosco, resulting in the cancellation of several tankers.
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