Tüpraş Investor Presentation August 2019
Marine Bunker Specification Changes and Its Effects
IMO 2020: the sulphur cap for marine bunkers is reduced from 3.5% to 0.5% (5000ppm)
- effective from 1 Jan 2020.
HSFO Replacement Expected in 2020, million b/d
Gradual Change in Marine Bunker Fuels, thousand b/d
3.5
Chart Title
0.6
0.5
1.1
14
1.3
CO
6
3
0
Current
HSFO
HSFO
HSFO
Scrubbers Non-compliance
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
ULSFO
MGO
■Compliant HSFO
■Non-compliant HSFO
■ULSFO
■ MGO
■LNG
Compliance can be met with:
•
Marine Gasoil (Diesel)
Ultra Low Sulphur Fuel Oil (ULSFO)
Scrubbers
LNG
Source Market Reports
Investor Presentation
www.tupras.com.tr
OUTLOOK
Expectations 2020 and beyond:
MGO (Diesel) is expected to be the no.1 choice in 2020
ULSFO/blend becomes more widespread through the years as
availability & compatibility issues get resolved
Compliant HSFO use grows as scrubber numbers rise from
~2,000 after Jan 1st, 2020 (some ports started bans on open-loop scrubbers
thus this projection might change)
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