- Oil trader Onyx has added fuel oil to its portfolio ahead of IMO 2020 rules.
- The fuel oil trading operation started on July 1 and carried out by a team of three.
- New IMO rules require ships to use fuel with a maximum of 0.5% sulphur from the start of 2020.
According to an article published in Economic Times Energy World, London-based oil derivatives trader Onyx has added fuel oil to its portfolio ahead of new IMO rules.
Keeping up with the changes
The move to add fuel oil to its portfolio ahead of IMO regulations was unveiled by its co-CEOs.
The fuel oil trading operation started on July 1 and is being carried out by a team of three headed by Lijia Ju, Omar Kayaam said
Natural progression
Mr.Kayaam said the decision to launch fuel oil derivatives trading “was a natural progression for the company which specializes in light ends and crude currently and which sees a lot of change and opportunities“ coming from the IMO sulphur rules for shipping
New IMO rules require ships to use fuel with a maximum 0.5% sulphur from the start of 2020, down from 3.5% currently
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Source: ETEnergyWorld
