World News
Kassinger Questions Practicality of 2018 Fuel Availability Study
Dr Rudy Kassinger has questioned the practicality of an International Maritime Organisation (IMO) fuel availability study scheduled for 2018, which will assess whether the implementation of a 0.50 percent global sulfur cap for marine fuel should be delayed from 2020 until 2025.
Speaking at the recent Connecticut Maritime Association (CMA) Shipping 2015 event, Kassinger said: "I found it interesting when I read that IMO wanted to do a survey in 2018 and my question is, who are they going to talk to?"
Petroleum refiners do not talk to each other about their future plans, he explained, as antitrust laws such as those in the US prevent them from doing so.
"There are about 125 different refiners in the world. Each one doing their own thing. So asking someone I think is great. My question is, who?"
The global cap on the sulfur content of marine fuel is currently set to be reduced in 2020 from 3.5 percent to 0.50 percent by weight.
However a review, currently scheduled for 2018, to assess whether enough compliant product will be available in 2020 could see that date delayed until 2025.
Speaking at the same event, Kassinger also said there was no sense in waiting any length of time to implement the 0.50 global percent sulfur cap, but if it was, then 2075 would be a better date than 2020 or 2025.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 6.00 | 661.50 | 4.00 |
| Rotterdam | 510.00 | 2.00 | 661.00 | 2.00 |
| Houston | 548.00 | 2.50 | 666.50 | 0.50 |
| Fujairah | 555.50 | 5.00 | 746.00 | 2.50 |
| Global 20 Ports Average | 582.50 | 1.50 | 753.00 | 1.50 |
| Global 4 Ports Average | 544.50 | 3.00 | 683.50 | 1.00 |
| Global Average Bunker Price | 631.00 | 2.50 | 803.50 | 2.00 |
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