Delivered prices for Marine Fuel 0.5% bunker fuel in Santos, Brazil, have jumped 23% to $640/mt since December 2, when S&P Global Platts started to assess the IMO-compliant fuel in several Latin American ports.
In Buenos Aires, Argentina, delivered prices have risen around 20% to $670/mt, while in Cartagena, Colombia, they have risen 8% to $681/mt
The International Maritime Organization has mandated that ships start using on January 1 bunker fuel with sulfur content lower than 0.5%. IFO 380, the current most commonly used bunker fuel, has sulfur content of up to 3.5%.
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