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Kang Wu and JY Lim

Articles by Kang Wu and JY Lim

IMO 2020: Are Asian refiners ready?

September 3, 2019

Ahead of the S&P Global Platts Asia Pacific Petroleum Conference (APPEC 2019), Insight presents a series of articles exploring aspects of the global trade in crude oil and refined products. Here, Kang Wu and JY Lim of S&P Global Platts Analytics analyze the challenges and opportunities facing Asian refiners ahead of the International Maritime Organization’s switch to a lower sulfur fuel standard.
The refining industry is on the brink of a major shift in the demand structure of bunker fuels, and refiners are making plans to meet changing product demand brought about by the IMO 2020 deadline.

The initial effect will be to create a huge disposition issue for some 3 million barrels per day (b/d) of high sulfur fuel oil (HSFO), globally. That volume will need be replaced by low sulfur fuel oil

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