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Teekay says likely to choose distillates as bunker fuel for majority of fleet

Published 03/19/2018, 11:33 AM
© Reuters.  Teekay says likely to choose distillates as bunker fuel for majority of fleet
TNK
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  • Teekay Tankers (TNK -3.6%) likely will choose distillates over other marine fuel options such as high sulfur fuel oil with scrubbers to comply with the International Maritime Organization's 0.5% global sulfur cap rule, Platt's reports.
  • The availability and quality of high-sulfur fuel oil could be a concern after 2020, says Ashley Noronha, TNK's regional commercial operations manager, adding that shipowners likely will have to secure contracts for HSFO in the trading area of that particular vessel, in case they opt for scrubbers; in such a scenario, distillates are among the viable options, Noronha says.
  • The IMO global sulfur cap rule requires shipowners to burn 0.5% sulfur-compliant bunker fuel compared with 3.5% sulfur currently, starting Jan. 1, 2020.
  • Now read: Energy XXI: Surprise


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