09APR2019 - NEWS - Ageing tanker vessels set to be used for floating storage of low sulphur fuel oil ahead of IMO 2020 sulphur cap regulation

Ageing tankers are set to be used for floating storage in greater numbers in the coming months as the months tick down to the global sulphur cap. Alphatanker, part of AXS Marine, has reported in its latest weekly report that VLCCs are in demand for storing very low sulphur fuel oil while LR2s are being sought to hold gas oil in the run-up to the January 1, 2020 sulphur cap. Alphatanker reported that a 21-year old VLCC has just been bought by a bunker trader for $15.3m with the ship likely to be used for floating storage. Meanwhile, tanker giant Euronav has decided to use one of its two ULCCs to carry low sulphur fuel oil.

Published by Editor - www.Livebunkers.com at 09-Apr-2019 04:55:34 [UTC] , contact editor at editor@livebunkers.com