Euronav is already drawing on some of its low-sulphur fuel stockpile.

Hugo de Stoop, the Belgian VLCC and suezmax giant's chief executive, said it has already started to use some of the 420,000 tonnes of the compliant fuel accumulated ahead of the IMO 2020 sulphur regulations set to kick in 1 January.

The fuel is being stored aboard the 441,561-dwt ULCC Oceania (built 2003) offshore Singapore.