Singapore—Global bunker fuel demand is expected to decrease significantly in 2020, reflecting the impact of the coronavirus pandemic, with tough market conditions amplifying credit risks, Unni Einemo, director of International Bunker Industry Association, said Sept. 16 at S&P Global Platts’ Asia Pacific Petroleum Virtual Conference Einemo said forecasts on the hit to bunker demand this year from association members range from a year-on-year loss of 7% to 17% and noted, “What we’ve seen is that demand is gravitating toward safe havens.”
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