International shipping association BIMCO is calling for the IMO to use more realistic economic growth data in its upcoming study on greenhouse gas emissions from the shipping industry, and not include unrealistically high gross domestic product (GDP) growth projections to predict future transport demand. BIMCO will make the formal proposal next month to an expert workshop … [Read more...]
International Chamber of Shipping Looking Towards Zero-Carbon Future for Shipping
The International Chamber of Shipping is looking ahead towards a zero-carbon future for shipping as sulphur and greenhouse gas emissions takes center stage starting with the IMO 2020 global sulphur cap next year. “The 2020 global sulphur cap will be the regulatory game changer of the decade with profound implications for the economics of shipping,” said Chairman of the … [Read more...]
Singapore 2018 Fuel Oil Trade Volumes Nearly Halved as IMO 2020 Looms
By Roslan Khasawneh SINGAPORE, Jan 3 (Reuters) - High-sulphur fuel oil (HSFO) volumes traded in S&P Global Platts' Singapore price assessment process were nearly halved in 2018 from the previous year, signs of a market shift ahead of tougher global marine fuel rules coming in 2020. New rules from 2020 will ban ships from using fuel oil with a sulphur content above … [Read more...]
Blessing in Disguise? IMO 2020 Could Help Container Shipping Achieve Elusive Supply and Demand Balance
By Sam Whelan, Asia correspondent (The Loadstar) - The IMO’s 0.5% sulphur cap, to be imposed in January 2020, could be a “blessing in disguise” for shipping lines, should the regulatory fallout finally end the industry’s elusive search for supply and demand balance. However, any benefits will not materialise without short-term pain, according to analysts speaking today at … [Read more...]
Oil Market Readies for New IMO Sulphur Regulations: Kemp
By John Kemp LONDON, Nov 20 (Reuters) - Global oil markets are adjusting to relatively strong demand for diesel and jet fuel compared to gasoline, coupled with the introduction of new bunker fuel regulations at the start of 2020. Rising diesel and jet fuel prices, at least relative to crude and gasoline, are forcing adjustments that should lessen the chance of a severe … [Read more...]