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Ample supply, declining utility demand expected to weigh on Asian HSFO market in 2024

January 10, 2024 Comments Off

The Asian high sulfur fuel oil market could be sluggish in 2024 as more-than-adequate supplies and a steady decline in utility demand are expected to offset incremental consumption by new scrubber-installed ships coming out of yards, trade sources said. Asia’s supply of 180 CST HSFO is set to rise in 2024, as South Asia pushes for cheaper or cleaner alternative…