IEA: high-sulphur fuel oil demand to plunge 60%

The International Energy Agency has forecast a 60% drop in high-sulphur fuel oil (HSFO) demand next year.

But it said that following the IMO 2020 low-sulphur fuel oil (LSFO) rules entering into force on 1 January, marine gasoil will see demand more than double.

The IEA said that supplies of LSFO will initially be limited, so shipowners will likely go for more expensive gasoil.