World News
Ban Carriage of Non-Compliant 2020 Bunker Fuel: ICS
An International Chamber of Shipping (ICS) proposal to ban to the carriage of non-compliant bunker fuel prior to the 2020 0.5% sulfur cap coming to force will be put to the International Maritime Organisation (IMO).
The shipowners' body has said it would table a specific proposal to the IMO in 2018.
"The ICS Marine Committee has recently decided to propose a carriage ban in bunker tanks for non-compliant fuel, with exemptions for ships that have fitted scrubbers," ICS director for policy Simon Bennett told maritime news provider Lloyd's List.
"Our member national associations are developing how this this idea might work, and ICS intends to come forward with some clear proposals to IMO early next year," Bennett was quoted as saying.
The IMO sub-committee on pollution prevention and response will start looking at implementation of the 2020 cap in February. Among the issues to be tackled are fuel availability, compliance and enforcement.
Bunker industry observers fully expect short-term volatility to emerge around the start of the new sulfur rule as the market responds to the policy change.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 2.50 | 673.00 | 1.00 |
| Rotterdam | 514.50 | 1.00 | 651.00 | 1.50 |
| Houston | 545.00 | 4.50 | 671.00 | 1.00 |
| Fujairah | 543.00 | 0.50 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.50 | 748.00 | 8.00 |
| Global 4 Ports Average | 539.00 | 1.50 | 685.50 | 0.00 |
| Global Average Bunker Price | 626.50 | 2.00 | 800.50 | 0.50 |
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