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JBC Energy Multi-Client Study on IMO 2020

Bunker Regulation
  • Limiting sulphur emissions from bunker fuel use to 0.5% globally in 2020 will impose substantial challenges on the industry, with a sustainable solution only likely to develop over a number of years.  But, the high level of uncertainty and presumably sharp and volatile price reactions will provide healthy margins to those in the industry who are positioned on the right side at the right time.
  • The refining sector will be key to the provision of compliant bunker fuel in 2020, as scrubbers will not find widespread implementation by 2020 and this will need time to re-establish HSFO as the main bunker fuel.
  • Refiners will be able to provide sufficient compliant bunker fuel oil based on the available set-up and crude diet.  But the knock-on effect of altered operations on crude and other product fundamentals will be significant, with strong price signals needed to provide the required incentives.  The use of surplus HSFO will be one of the critical components in finding short-term and longer-term equilibria. 

Available from January 16, 2017 - JBC Energy will provide a 100+ page study in PDF format, consisting of text and charts as well as some XLS material.

JBC Energy is an independent research centre, with no affiliation to the shipping, refining or related sectors.  The analysis will be based on JBC Energy's proprietary SuDeP modelling framework, applying detailed fundamental and refining analysis.  We apply our usual critical, comprehensive and structured approach to analyzing this topic. 


€ 5,500 for existing clients
add on: € 1,000 for 1-hour TelCo

€ 7,000 for non-clients
add on: € 2,500 onsite presentation (excl. travel)

Price: As Quoted

Fill the form here to request access for this service.