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GNOLF - Asian Gasoline Glut May Ease The Transition To IMO 2020-Compliant Fuels
Genoil Inc
Source: International Maritime Organization.
From 1 January 2020, the International Maritime Organization ((IMO)) will limit the sulfur in fuel oil used on board ships operating outside designated emission control areas to 0.50% m/m (mass by mass), from 3.50% m/m. Of total global air emissions, shipping accounts for 9 percent of the sulfur oxides.
Grave expectations of the impact on the oil market have been published in advance of this event, but it appears that an Asian gasoline glut may in fact ease the transition after all.