World News
67% of Shippers Not Ready for IMO2020: Bloomberg
Friday May 10, 2019
A whopping 67% of shipping is still not ready for IMO2020, according to data from Bloomberg Intelligence.
A similar proportion of refiners, 65%, are also not ready for the new sulfur cap on marine fuel.
Ben Luckock, co-head of oil trading at Trafigura, believes market participants have been slow act as they were unsure when the new rules would come into force.
"It was announced so far in advanced but it's really only the last six to 12 months that people have spent money to take it seriously because they now believe it's going to occur," he told Bloomberg Commodities Edge.
The global 0.50% sulfur cap on marine fuel comes into force from January 1, 2020.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 549.00 | 7.00 | 670.50 | 3.50 |
| Rotterdam | 508.00 | 1.00 | 659.00 | 4.50 |
| Houston | 546.50 | 3.00 | 672.00 | 5.00 |
| Fujairah | 542.00 | 6.50 | 744.00 | 4.50 |
| Global 20 Ports Average | 578.00 | 2.00 | 758.50 | 2.50 |
| Global 4 Ports Average | 536.50 | 3.50 | 686.50 | 4.50 |
| Global Average Bunker Price | 623.50 | 2.00 | 807.50 | 2.00 |
Popular Now More
-
Nov 27The company is looking for candidates with shipping industry experience and strong negotiation skills. -
Nov 25The firm has halted production as of November 25 due to a lack of prompt availability of commercially viable feedstock. -
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer.