Bunker Costs Push Intra-Asia Freight Rates Up 10% as Gulf Disruption Bites
The role of bunkers in freight rates has finally crossed into the intra-Asia market, with average rates rising by 10% over the past fortnight.
HANOI, March 24 (Reuters) – Vietnam will stop using diesel fuel oil with high sulphur content from January 2016 to help protect the environment, the government said.
From the start of next year, diesel with 0.25 percent sulphur, mainly used in water transport, will not be allowed, the government said in a statement issued late on Monday, approving a proposal from the science and technology ministry.
Diesel with high sulphur content in contracts signed by fuel importers as well as in national reserves will be used up by the end of this year, the statement said.
The move will also reduce fraud in which lower quality fuels are passed off as higher grades, according to the statement. (Reporting by Ho Binh Minh; Editing by Joseph Radford)
(c) 2015 Thomson Reuters, All Rights Reserved
This article contains reporting from Reuters, published under license.
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