#VLSFO price spreads to competing marine fuels have collapsed over the last month as global infrastructure has adapted to the market's preferred #imo2020 fuel. Econs for scrubber installations now a lot less compelling, with investment payback stretching further back. #oott
Singapore Port Authority stats for Jan showing #VLSFO by far the dominant bunker fuel in the region. Even as price premiums for low sulphur fuels have eased throughout the month, #vlsfo now accounts for 70% of marine fuel sales in Singapore, and 80% of the fuel oil pool. #oott
In its latest oil market report, the IEA forecasts Q120 y-o-y oil demand to FALL by 435kb/d, the first quarterly contraction in ten years. #Coronavirus is now a real ongoing threat to global oil markets. #oott
https://t.co/NqpVjUupx7?
#Coronavirus disruption pushing back scrubber installations for the foreseeable future. Bad news for #tanker owners who delayed retrofits during the Q4 boom, and are now on the wrong side of weak earnings and wide HS/LS bunker spreads.
https://t.co/DY1Acd90Id
Hire a ULCC and fill it with cheap, compliant fuel oil. $EURN preparations for #imo2020 the benchmark strategy. Good for the stock price relative to peers too, as #tanker equities taking a dump this month on collapsing earnings outlook. #oott
A huge dump in front end #Brent structure yesterday. With coronavirus expecting to be a drag on markets for months, what will be the catalyst for filling the gap caused by china #crudoil demand plunging 20%? #oott
Will q2 run cuts and refiners' switch to #vlsfo production draw a line under this year's armageddon in #gasoil cracks?
#imo2020 was meant to be a huge bull story, but now coronavirus has lined up alongside temperate weather and marine vlsfo competition to crush demand. #oott
The US removing sanctions on COSCO is a huge bear factor for tanker freight, as 25 #vlcc are potentially reintroduced back into the spot market heading into the demand light q2... #oott
https://t.co/7kyXt6tewS
The changing face of #broking. Regulatory reform and competition from electronic platforms are incentivising #commodity brokers to look beyond their traditional transaction models. https://t.co/JL55Qurqw3 #fintech#imo2020
Marine #gasoil is re-establishing price superiority over VLSFO. The Fuj MGO/ VLSFO bunker spread briefly turning negative ahead of #imo2020 implementation but has now opened out to $75 as the physical market adjusts to VLSFO becoming post-Jan 1st compliant fuel of choice. #oott
Slow steaming a thing of the past for scrubber fitted vessels in weak markets? It's a two-tier market for #capesize vessels post #imo2020. The huge $ spreads between high and low sulphur fuels are changing shipping market dynamics. #oott#shipping
https://t.co/CRKttzeNvC