Singapore-The number of tankers around the Singapore Strait has declined steadily in recent weeks as low-sulfur material in floating storage is moved to landed storage to meet rising demand for marine fuels compliant with the International Maritime Organization’s global sulfur limit. The IMO rule starting January 1 is set to spur demand for cleaner fuels and alter the dynamics of the bunker and shipping industries. Several vessels storing low-sulfur fuel for weeks around Singapore, including five VLCCs and three Suezmaxes, have moved out after offloading their cargoes, according to sources and cFlow, S&P Global Platts trade-flow software.
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