How will IMO 2020 impact fuel prices?
From 1 January 2020, a new 0.50% global sulphur cap on marine fuels will come into effect. This is a significant reduction on the 3.50% global limit which is currently in force and the new cap is certain to have a dramatic and immediate impact on the shipping, bunkering and energy sectors. These sectors will have to work together to meet this new challenge.
Senior figures in the maritime community have said that the enforcement of the new global cap will “turn the whole bunkering industry upside down.” This is true – but it is a revolution that has been a long time in the making.
The 2020 deadline was recently confirmed at the 70th session of the IMO Marine Environment Protection Committee.
Our 40 minute webinar discusses expected impacts on diesel as well as regulation changes.