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IMO 2020 impact-I: HSFO price to come down to coal-equivalent price
Sep 21: Once IMO 2020 low sulphur regulations kick in, where will the high sulphur fuel oil (HSFO) go?
8Clearly, a lot of it is still going to be produced in India and will be in excess
8Excess HSFO demand only exists in regions with relaxed environmental standards where it can compete with LNG or coal.
8At the limit, the delivered price of HSFO to such regions should find an initial floor around the price of LNG, and then coal in terms of calorific value. HSFO is already pricing below LNG in the forward market but has $180/MT to go to reach a floor versus the coal-equivalent price in Asia.
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