World News
IMO2020: Significant Uncertainties Remains Over Enforcement and Fuel Composition, Says North
P&I Club North has issued some final IMO2020 guidance for seafarers ahead of the new sulfur cap coming into force on January 1, 2020, saying significant uncertainty remains over the composition of the new 0.50%S fuels and how the regulation will be be enforced around the world.
in response, North has released two "2020 Shorts" addressing the issues: Know Your Fuel, and Preparing for Port State.
The two topics have been extensively discussed as part of the IMO2020 debate, and the guidance covers the key several points for operators to consider.
This includes the fact that VLSFO is an umbrella term for any IMO2020 compliant marine fuel that has a maximum sulphur content of 0.50% and is not a wholly distillate fuel, and as such refers to fuels are varying viscosities and specifications.
Other parameters such as cold flow properties, stability and compatibility could all vary significantly compared to traditional IFO380 fuels.
On the enforcement side, North reminds that the sulfur cap regulation is set by IMO, but enforcement is the responsibility of the individual states and this may vary.
More information on the 2020 Shorts can be found here: https://www.nepia.com/topics/2020-vision/
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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