Are we all scrubbed up and ready to go? Updated analysis of the IMO 2020 marine fuel sulphur changes Report

Insight 15 August 2019

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It’s not long until the IMO 2020 fuel regulation changes come into force on 1 January 2020.

Get our latest IMO 2020 insight for the most up to date information on the impacts of the marine fuel sulphur changes.

Key developments in this report include:

Our latest forecasts for bunker fuel prices and crude differentials, consistent with our H1 2019 Brent price forecasts
More detailed analysis of availability and quality of VLSFO by region, and updated numbers for the consumption of scrubbed HSFO
Additional work on the impact of the IMO regulations on the evolution of the global crude slate, refinery investments and upgrading capacity.

Report summary

In a few months time, IMO regulations on the quality of marine bunker fuel will have a major impact on the mix of fuel types consumed by the shipping sector from 2020 onwards. This insight summarises our latest view on the impact of this fuel specification change. The insight provides our latest forecasts for bunker fuel prices and crude differentials consistent with our H1 2019 Brent price forecast and global refined product imbalances. We highlight recent developments in terms of scrubber investments and our latest assessment of the availability of VLSFO and middle distillate fuels. We also present further work in relation to crude slate evolution, refinery investments and upgrading capacity.