Torm calculates with a 2020 boost of five percent
2020 has become a catchphrase in the product tanker sector and a beacon of hope for an industry that is currently ailing. Torm Executive Director Jacob Meldgaard is confident that the "sulfur effect" can boost demand by five percent, starting on that magical date of 01.01.2020, he tells ShippingWatch.
January 1 2020 will boost the demand for refined oil products as the need for low-sulfur fuel will surge. And shipowners with end-of-life product tankers will opt to scrap their fleet as it does not pay to install a scrubber or pay for the more expensive marine gas oil on older vessels.
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