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IMO Regs to Drive Future Ship Efficiency Gains, Says IMO Marine Environment Director
Stefan Micallef, Director of the Marine Environment Division at International Maritime Organization (IMO) last week, at the 2017 Propulsion and Emissions conference in Hamburg, said IMO regulations "will be a driver and catalyst for a generation of new, more efficient ships."
Micallef delivered a keynote address at the "Future Proofing Your Fleet" event, which discussed challenging issues of complying with environmental regulations and the associated costs.
In his address, Micallef discussed key IMO issues, including those related to CO2 emissions reduction policies.
Specifically, Micallef highlighted the introduction of the Energy Efficiency Design Index (EEDI), which he says is expected reduce CO2 emissions by 1.3 gigatonnes - or 3.6 percent of total global emissions - by 2050.
While he called the IMO decision to implement a 0.50 percent sulfur cap on bunkers in 2020 a landmark step, ultimately, "we need a pioneering spirit to navigate the waters ahead," concluded Micallef.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
| Rotterdam | 455.00 | 8.00 | 619.50 | 4.00 |
| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
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