The IMO 2020 regulations limiting sulfur content in maritime fuel oil have finally arrived. Since 1 January, ships are prohibited from burning fuel oil with sulfur content in excess of 0.5%, unless they have installed “scrubbers” to remove sulfur.
The GCC states are largely in a good position to capitalize on this development. Having invested in upgrading units, the likes of Saudi Arabia and the UAE have minimal high sulfur fuel oil (HSFO) output, the value of which has plummeted. Instead they produce substantial amounts of low sulfur fuel oil (LSFO) and marine gasoil, which are expected to displace HSFO (MEES, 15 February 2019). (CONTINUED - 543 WORDS)
