- About 1.1 million tons of HSFO stored in tankers, Vortexa says
- Influx of flows has weighed on regional processing margins
A fleet of tankers filled with Russian fuel oil have anchored near Singapore and Malaysia as more flows are directed toward Asia ahead of European Union sanctions that take effect early next year.
About 1.1 million tons of high-sulfur fuel oil were being stored on vessels in the week through Oct. 24, according to Vortexa Ltd. While the volume has eased slightly from a record, it’s still more than double the level a year ago. HSFO is used in power generation and to fuel ships fitted with pollution-reducing kits.
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