Bomin today said it will exit the Singapore and Antwerp markets, and going forward will operate from just two offices, Houston and Hamburg.
The move was said to be critical to ensuring commercial viability and sustainability in the post-2020 world.
The Bomin group is in a transformation and restructuring process and intense competition and low margins characterize the situation in all major ports,” says Jan Christensen, Managing Director of Bomin Group.
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The shipping industry is still waiting for the new rules on marine fuel oil to be finally clarified. Meanwhile, China is already moving toward adopting the 0.5 % sulphur limits, mainly at major ports along the Yangtze River. In 2016 five ports implemented the regulations and six more key ports are following towards the end of 2017. Last year the Chinese government started phasing-in regulations forcing ships to use fuels with low-sulphur content while at berth and near major Chinese ports as an estimated 18,000 premature deaths in China in 2013 were caused by air pollution from ocean-going ships.
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