S.Korean refiners aim to benefit from 2020 shipping mandate

Refinery industry

Refiners in South Korea are planning to invest more than $5 billion in plant upgrades due to the 2020 global sulphur cap. The refiners expect to become one of the biggest beneficiaries of the new regulations whilst many competitors are still waiting to commit to new investments. According to Wood Mackenzie analyst Suresh Sivanadam, the changed regulations are leading to a rise in demand for gasoil from the bunker sector and would push other refiners to look at investments or blending to meet demand.

Read more here: Hellenic Shipping News

German Bunker Company: Sulphur regulations will spark consolidation

The bunker industry can expect to undergo further consolidation in preliminary stage to 2020, according to global supplier Bomin Group. Due to the upcoming sulphur regulations costs and test credit lines will increase. As a consequence smaller bunker traders could be devoured by larger players across the industry as greater costs for fuel will put pressure on credit conditions across both the bunker and shipping industries.

Read more here: ShippingWatch