With the IMO 2020 sulphur cap now in force as of 1 January 2020, the shipping industry faces a new set of issues.
The carriage ban of non-compliant fuel oil is on the horizon; from 1 March 2020, ships not fitted
The price of Brent crude oil, the international benchmark, averaged $64 per barrel (b) in 2019, $7/b lower than its 2018 average. The price of West Texas Intermediate (WTI) crude oil, the U.S. benchmark, averaged $57/b in 2019, $7/b lower