World News
Fratelli Now Expecting Most to Comply with IMO 2020 Rule
Timothy Cosulich, who heads up the Fratelli Cosulich Group of companies, says he's had a change of heart for the better on IMO 2020 compliance levels.
After talking with various parties within the industry, he says his view has changed from a year previous when he was expecting non-compliance to be widespread.
"I have changed my mind and now I expect the majority [of operators] will comply," he told Tanker Shipping & Trade.
The comments come at a time of renewed focus on compliance levels, with Parker Kittiwake last week stating the industry will be doing "pretty well" if initial compliance with the upcoming IMO2020 rule can hit 80%.
While at least some noncompliance is expected to be related exclusively to the IMO2020 transitional period, such as improper tank cleaning, questions linger as to whether authorities are ready to enforce the new cap in the longer term.
Read the full Tanker Shipping & Trade interview here.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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