World News
IMO Set to Consider 3 More ECAs
The IMO is expected to receive proposals for three new emission control areas (ECAs).
Details of the proposals were submitted during last week's 80th session of IMO's Marine Environment Protection Committee (MEPC 80).
The first is a new ECA in Canada covering Arctic waters under the country's jurisdiction.
The two other zones are planned for European waters, the first of which would connect the area's existing ECAs with the upcoming Mediterranean ECA (Med ECA) set to com into force from May 1, 2025.
Norway also revealed it may extend the existing ECA to cover the entire Norwegian coast.
If proposals were made and approved at MEPC 81, scheduled to take place in April 2024, the International Bunker Industry Association (IBIA) noted that IMO process would dictate that the earliest any new ECAs come come into effect would be 2027.
ECAs typically require vessels to use fuels with a maximum 0.10% sulfur content or achieve an equivalent method of compliance, such as using exhaust gas cleaning technology.
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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