World News
Expect Zero Tolerance for IMO 2020 Non-Compliance: Paris and Tokyo MOUs
Ship owners and operators should expect the International Maritime Organization's new 0.50% sulfur limit for bunker fuels, and the upcoming ban on the carriage of non-compliant fuel, to be upheld 'without exception,' according to the Paris and Tokyo MOU port state control authorities.
The authorities have been delivering letters to vessels since the start of last year to make them aware of the new rules, they said in a statement Monday.
"The consensus at MEPC 73 was that there was no need to request port state control authorities to adopt a 'practical and pragmatic' approach as compliance was expected, therefore both Memoranda have agreed that the requirements in relation to the implementation of the 0.50% m/m sulphur cap will be applied without exception," the authorities said.
"This includes the carriage ban on non-compliant fuel from 1 March 2020."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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