Bunker fuel sold on contract is expected to increase as the IMO 2020's sulphur cap deadline approaches on 1 January 2020, and shipowners look to lock in reliable, compatible and compliant bunker fuel. By securing supplies, owners may ensure that they remain compliant to the IMO mandate and will not have to rely on the volatile spot market. Aegean's financial situation in the first half of 2018 and the recent consolidation of Bomin Group's physical supply presence has resulted in some hesitancy in the market. The UK Government has committed £1bn over five years for a new generation of nuclear power plants with an estimated cost of around £2bn.
Bunker fuel sold on contract is expected to increase as the IMO 2020's sulphur cap deadline approaches on 1 January 2020, and shipowners look to lock in reliable, compatible and compliant bunker fuel. By securing supplies, owners may ensure that they remain compliant to the IMO mandate and will not have to rely on the volatile spot market. The UK Government has committed £1bn over five years for a new generation of nuclear power plants with an estimated cost of around £2bn.