World News
IMO Releases Reminder on 2015 ECAs
The International Maritime Organization (IMO) has released a reminder of Emission Control Area (ECA) sulfur limits which come into effect on January 1, 2015.
Operators and owners are reminded that beginning in the new year, sulfur content in marine fuel used in ECAs cannot exceed 0.10 percent by weight, a reduction on the current limit of 1.0 percent.
The areas affected include the North Sea area, the Baltic Sea area, the United States Caribbean Sea area around Puerto Rico and the United States Virgin Islands, and the North American area, which includes 200 nautical miles off the coasts of Canada and the U.S.
Ships looking to become compliant will either have to switch to low-sulfur fuel or other alternatives such as liquefied natural gas or scrubbers.
The sulfur limit outside of ECAs remains 3.50% at present, though that will drop to 0.50% beginning in 2020, though the date may be deferred to 2025 pending a review in 2018.
The creation of more ECAs outside of existing areas is also a possibility, with some recent considerations including Hong Kong, Japan, and Australia.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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