World News
There Will Be No Delay to January 1, 2020 Start Date for New 0.50% Global Sulfur Cap: IMO
The International Maritime Organization (IMO) has reiterated that it will not postpone the start date for a new 0.50% global sulfur cap on marine fuel set to come into force in 2020.
"The 2020 global sulphur limit will enter into force on 1 January 2020, without any delay," IMO's Edmund Hughes told delegates this week gathered at an industry event in Athens, Greece.
IMO agreed last October that a 0.5% global sulfur cap on marine fuel will be implemented from 2020, rather than the proposed delayed date of 2025, and has also since rejected the idea that there will be any transitional period for the implementation of the new sulfur cap on bunkers.
Still, based on the views of a wide range of industry sources Ship & Bunker has spoken to, many participants are apparently adopting a "wait-and-see" approach to so-called IMO 2020 as they believe a delay is possible.
This belief has been further fuelled by IMO's decision earlier this year to push back compliance with the Ballast Water Management Convention by two years.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 559.50 | 6.00 | 655.00 | 6.50 |
| Rotterdam | 512.00 | 2.00 | 663.00 | 2.00 |
| Houston | 543.50 | 4.50 | 661.00 | 5.50 |
| Fujairah | 557.50 | 2.00 | 746.00 | 0.00 |
| Global 20 Ports Average | 582.50 | 0.00 | 753.00 | 0.00 |
| Global 4 Ports Average | 543.00 | 1.50 | 681.50 | 2.00 |
| Global Average Bunker Price | 630.50 | 0.50 | 793.00 | 10.50 |
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