Experts Predict A $4/Barrel Crude Oil Boost On 2020 IMO Rules

  by Alex Longley and Irene García Pérez (Bloomberg) New regulations to curb pollution from the world’s shipping fleet could lift crude prices by $4 a barrel when the measures come into effect in 2020, according to a Bloomberg survey of 13 oil industry analysts. That’s because the changes from the International Maritime Organization, a United Nations agency, are … [Read more...]

Maersk Braces For A $5+ Billion Fuel Bill In 2020

By Jack Wittels (Bloomberg) The world’s largest container shipping line says adhering to stricter environmental standards could add at least $2 billion to its annual fuel bill from 2020, one of the clearest examples yet of how vessel owners will be affected by rules to curb sulfur emissions that take effect in 16 months’ time. High crude prices, tight availability of … [Read more...]

Refiners Struggle As Low Sulphur Upgrade Costs Approach $1 Billion Per Plant

by Toby Sterling (Reuters) - Global energy trader Gunvor Group has put on hold plans to upgrade its Rotterdam refinery that intended to make the plant more competitive ahead of new global rules on shipping fuel quality, it said on Tuesday, citing market conditions. Global oil and shipping companies are looking at options to cope with the new standards that come into effect … [Read more...]

DHT to Install Scrubbers on Twelve VLCCs

Crude oil tanker company DHT Holdings has entered into agreements to install exhaust gas cleaning systems, also know as scrubbers, on twelve of its Very Large Crude Carriers (VLCCs) in order to comply with the IMO's upcoming low sulphur fuel regulations.  DHT announced on Tuesday it has entered into agreement with Alfa Laval to supply the systems and has also … [Read more...]

Shipping’s 2020 Low Sulphur Fuel Regulation to Hit Airlines

By Alex Longley and Benjamin Katz (Bloomberg) -- From the window of a jet plane, it can be hard to see ships crawling across the seas. Yet what’s burning in those engines thousands of feet below may determine the fate of airline profits in the next few years. In about 18 months’ time, the world’s oil refineries are going to have to supply shipping companies with … [Read more...]