The collapse of the oil market has seen prices of marine fuels compliant with the IMO 2020 sulphur regulation dwindle providing some ease for shipowners in the unprecedented economic crash. BIMCO’s data shows that simultaneous supply and demand shocks have sent bunker prices racing towards previous low levels with very low-sulphur fuel oil (VLSFO) trading at USD 246 per MT on 5 May 2020 in Singapore. The current upheaval has collapsed marine gas oil low-sulphur (MGO LS) prices at the fastest pace in recent memory, even exceeding the demise of the Great Financial Crisis and oil crash in 2014. Read more: Offshore Energy
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