Majority of IMO 2020 compliant bunker demand to be met by marine gasoil, low sulfur fuel oil: IBIA exec
Compliance to the International Maritime Organization’s global sulfur limit rule is expected to be high with about 95% of the compliant bunker fuel demand likely to be met by marine gasoil and low sulfur fuel oil come 2020, Simon Neo, regional manager Asia at IBIA, said Tuesday.
“Before 2020, things need to be ready as the date is cast in stone … IMO 2020 is final and there will be no delay,” Neo said at an industry event in Singapore.
The IMO will cap global sulfur content in marine fuels at 0.5% starting January 1, 2020, from 3.5% currently. This applies outside the designated emission control areas where the limit is already 0.1%.
Shipowners will have to switch to more expensive cleaner fuels or consider alternative fuels such as LNG or use HSFO with scrubbers to comply with this rule.
Read the full article here