World News
Be Proactive on IMO2020 Compliance, says V.Group
V.Group says shipowners and operators need to be proactive on IMO 2020 compliance, and in particular make sure they have a Ship Implementation Plan (SIP).
While there is still considerable uncertainly over how and if each nation will enforce the new rules, John Kerr, Global Head of Technical for Ship Management, says vessels that are not compliant risk being declared unseaworthy.
“This could result in heavy fines, penalties, detention, delays, and in the event of an insurance claim, even affect charter party and or indemnity cover,” he says.
“As the 0.5% global sulphur cap looms large, knowledge is power, and preparation key to a smooth transition into 2020 and beyond.”
SIPSs also provide evidence of environmentally compliant operations, he notes, and is also a factor that will be taken into consideration should a vessel fine be unable to source compliant fuel and request a fuel oil nonavailability report (FONAR).
“We’re seeing increasing numbers of shipowners and operators adopting this approach and a significant proportion of our fleet is now 2020-ready,” says Kerr
The new global 0.50% sulfur cap 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 |
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