IMO Agrees on Stricter Efficiency Targets for Some Ships

By Nina Chestney LONDON, May 17 (Reuters) - The International Maritime Organization (IMO) on Friday agreed stricter energy efficiency targets for certain types of ships in an effort to speed up action to cut the sector's emissions. The IMO's Marine Environment Protection Committee has been meeting in London this week to discuss tougher rules on sulfur emissions and other … [Read more...]

IMO 2020 Will Disrupt Markets for 1-5 Years -Boston Consulting Group

By Erwin Seba HOUSTON, May 16 (Reuters) - The marine industry's January 2020 shift to using very low sulfur fuel oil (VLSFO) to power ships worldwide will launch a one- to five-year disruption in oil and refined products markets, according to a study released Thursday by Boston Consulting Group. The International Maritime Organization (IMO)'s mandated switch will require … [Read more...]

Floating Storage in Strait of Malacca Soars Ahead of IMO 2020

By Serene Cheong and Alfred Cang (Bloomberg) -- The world’s biggest offshore oil supermarket is stocking up for anti-pollution rules that Goldman Sachs Group Inc. predicts will upend energy markets. The Strait of Malacca off Singapore and Malaysia is not only a waterway linking supply from the Middle East, Africa and the U.S. to Asia, but has also been used in the … [Read more...]

Price of Bunker Fuel Surges Ahead of IMO 2020

By Jack Wittels (Bloomberg) -- Demand for the shipping industry’s main fuel is widely expected to collapse like never before in 2020, so it might come as a surprise that its value is soaring. High-sulfur fuel oil at the Dutch port of Rotterdam in January is now trading at about $16 a barrel less than crude oil, close to the strongest in 18 months, according to data compiled … [Read more...]

Sulphur-Sniffing Drone to Sniff Out Polluters in Danish Waters

Authorities in Denmark have deployed a large sulphur-sniffing drone to literally sniff out ships breaking EU rules governing the sulphur content of marine fuel. The drone is being used by the Danish Maritime Agency to monitor ship emissions around the area of the Great Belt, where a number of large tankers transit to and from the Baltic Sea. The first aerial sulphur emission … [Read more...]