Marine fuel regulations: Gasoil is the only viable near term solution Report

Insight 06 June 2013

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Report summary

The international marine bunker market currently accounts for over 200 Mt of oil demand - equivalent to over 3.8 million b/d. The International Maritime Organisation (IMO) MARPOL Annex VI sulphur limits will have a major impact on bunker fuel markets, with a 0.1% sulphur limit in Emission Control Areas (ECAs) in 2015, a potential European Union (EU) wide limit of 0.5% in 2020, and a worldwide limit of 0.5% by 2025 at the latest. This insight presents our view of the resulting market,

Introduction
Context
Current timeline for implementation
Impact in 2015
- Impact on price
- Impact on refinery supply balances
Impact in 2020
Summary and conclusions

Tables and charts

This report includes 12 images and tables including:

Figure 1: Current and possible future Emission Control Areas
Figure 2: Current timeline for bunker sulphur emission limits, 2008 - 2025
Figure 3: ECA bunker fuel demand forecast methodology

Figure 4a: Marine fuel demand in North West Europe
Figure 4b: Marine fuel demand in North America
Table 1: Potential additional Marine Gas Oil demand arising from EU 2020 decision, Mt (kb/d)
Figure 7a: Oil demand in European bunker market
Figure 7b: Oil demand in European bunker market
Figure 5a: North West Europe (Rotterdam)
Figure 5b: North America (NY Harbor)
Figure 6a: North West Europe refinery supply balance
Figure 6b: North America refinery supply balance