To preface this for people who are not familiar with the IMO2020 regulations; these mandated the use of fuel oils with a sulphur content of less than 0.5%, such as Very Low Sulphur Fuel Oil (VLSFO), or an approved equivalent means of compliance such as exhaust gas cleaning systems i.e., scrubbers. The latter then allows shipping lines to run fuels oils with a higher sulphur content (IFO380), which is also cheaper. An increase in scrubber installations (which is what we are currently seeing) would mean an increasing share of vessels that are capable of the cost savings potential of buying cheaper regular fuel instead of the more expensive low-sulphur VLSFO. For reference, the current price premium on VLSFO is 166 USD/ton. Using a model to roughly calculate the per day global fuel consumption across the entire sector, the shipping lines have so far saved a cumulative 13 billion USD due to the use of scrubbers since the implementation of IMO2020. (....)