Amsterdam — Spanish refinery Cepsa aims to produce 2.2 million-2.5 million tonnes per year of shipping fuel that will be compliant with new IMO rules capping sulphur emissions, the head of marine fuels for Cepsa Trading said
* Cepsa has so far not secured any buyers for the new very low sulphur fuel oil (VLSFO), Carlos Giner Monleon told the Platts European Bunker Fuel Conference in Amsterdam.
* Monleon said some customers tried the new fuel in tests at the end of February and at the end of April, but did not specify which customers
* From Jan. 1, 2020, ships will be required to burn fuels with maximum 0.5% sulphur, down from 3.5% currently, International Maritime Organization (IMO) rules dictate
* U.S. buyout firm Carlyle Group has agreed to buy between 30 and 40% of Cepsa from Abu Dhabi state investor Mubadala.