Euronav Ships First 2020-Compliant Fuel to Oceania Megatanker Parked Off Malta -Ship Tracking

By Ahmad Ghaddar LONDON, March 19 (Reuters)– Euronav has actually hired a vessel to bring a 30,000 tonne freight of low-sulphur gas oil from northwest Europe to Malta, where its megatanker, Oceania, has actually been parked offshore becauseJan 12, ship-tracking information revealed.

Oil analytics company Vortexa claimed the STI Brixton vessel packed low-sulphur gas oil from Antwerp on March 9 as well as results from get to Malta by Wednesday, where it will likely move its freight through a ship-to-ship procedure onto the ultra huge unrefined service provider (ULCC).

This is the initial observed STS delivery filled onto the Oceania megatanker because it showed up offshore Malta, Vortexa claimed.

Euronav chose to release the Oceania to save tidy gas as component of its IMO 2020 campaigns.

From the beginning of following year, the International Maritime Organization (IMO) will certainly outlaw ships from making use of gas with a sulphur web content of greater than 0.5 percent, compared to 3.5 percent currently, in among the most significant modifications to strike the oil market in years.

Only ships furnished with sulphur cleansing packages referred to as scrubbers will certainly be permitted to proceed shedding high-sulphur gas.

Euronav is just one of the globe’s most significant shipowners with a fleet of around 70.

Traders claimed they have actually seen Euronav proactively acquiring gas oil lately.

“Euronav’s chartering and fuel oil purchasing activity signals an emerging trend of shipowners becoming more active in the trading arena,” claimed elderly Vortexa trading professional, Cosmo Kedros.

“We expect to see more of this across Europe and Asia in the run-up to the IMO 2020 deadline,” he included.

(Additional coverage by Ron Bousso, modifying by Louise Heavens)