World News
IMO Hails 77% Drop in Shipping's Sulfur Emissions Since 0.50% Sulfur Cap
The IMO has noted the significant drop in the shipping industry's sulfur emissions since its introduction of a global 0.50% limit almost three years ago.
Marking World Clean Air Day on Thursday, the organisation said it estimated ships' sulfur emissions had dropped by 77% since the limit came into force on January 1, 2020.
"The entry into effect of the 'IMO 2020' regulations led to an estimated 77% drop in overall sulfur oxide emissions from ships, thus significantly improving air quality and protecting human health," the organisation said on Twitter.
The UN body did not clarify how its estimates were calculated, and whether they took into account potential non-compliance with the sulfur limit. But non-compliance is widely assumed to be at low levels, with the transition to VLSFO, LNG and to continued use of HSFO with scrubbers having progressed smoothly over the past few years.
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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