EMEA News
Iran's NITC, RIPI Sign Deal to Develop 2020 Bunker Fuel
The Iranian Tanker Company (NITC) has signed a deal with the country's Research Center of Petroleum Industry (RIPI) with the aim of developing bunker fuel for use from 2020 when the global sulfur cap on marine fuel lowers to 0.50%, the Iranian oil ministry's news agency Shana reports.
"Regarding the importance of the issue and the fact that not much is left to the 2020 deadline, we decided to tap RIPI's technological capabilities to cap sulfur content of marine fuel and promote its quality," said NITC managing director Sirous Kian Ersi.
The deal will "assess novel methods and develop of state-of-the-art techniques for improving and promoting quality of bunker fuel and reducing pollutants," according to the news agency, although details on whether the intention is to develop fuel oil or distillate-based products was not provided.
There is expectation that the deal will not only provide fuel for NITC but also the wider international market, according to the report.
The news comes at a time of increased focus on how ship owners and operators intend to comply with the upcoming sulfur cap.
Inatech's Alok Sharma recently told Ship & Bunker the industry is woefully unprepared for 2020, while Hapag-Lloyd AG (Hapag-Lloyd) and OOCL (which together represent some 10 percent of the world's box carrier fleet by capacity) have both told Ship & Bunker that it is too early to start planning for 2020.
