September 25, 2019 / 9:46 AM / 4 months ago

CORRECTED-S&P Global Platts reports first low-sulphur fuel oil cargo trade in Singapore

(Corrects paragraph 3 to clarify that P66 bought the cargo)

SINGAPORE, Sept 25 (Reuters) - S&P Global Platts on Wednesday reported the first physical cargo trade for low-sulphur fuel oil (LSFO) with a maximum 0.5% sulphur content in Singapore ahead of a sulphur cap by the International Maritime Organization (IMO) in 2020.

The milestone trade comes ahead of new International Maritime Organization (IMO) regulations that will reduce the permissible sulphur content in marine fuels globally from 3.5% currently to 0.5% from the start of 2020.

Shell sold 20,000 tonnes of LSFO marine grade fuel to P66 at $19 per tonne to Singapore quotes for October for delivery on Oct. 16-20, according to trade data collected by Reuters. (Reporting by Roslan Khasawneh, editing by Louise Heavens)

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