World News
Compliance Solutions for IMO2020 a Per Vessel Decision: Tolson
When it comes to choosing a compliance solution for the upcoming global 0.50% sulfur cap on marine fuel, just as there is no single "best" solution for the entire world fleet no one solution will be best for a bunker buyer's entire fleet either, argues 20|20 Marine Energy's Adrian Tolson.
"The reality is that fuel buyers – the ship owners, operators and charterers - need to drill down into the real detail on what their fuel procurement strategy will be post 2020 for each and every vessel they own or operate. Based on certain trading routes, distillates might be appropriate for one vessel. For another, a scrubber might be more applicable," he says.
"To do this, they need to be able to look into the future; to see what a 2020 world looks like, and the impact that it will have on their businesses, both financially and from an operational perspective. With this clarity they can develop the right fuel procurement strategy that will keep costs as low as possible, mitigate risks and ensure compliance. As well as creating a more efficient and profitable operation, and ensure business continuity, they will also be more competitive in the eyes of their customers."
In response, 20|20 Marine Energy says it has partnered with BunkerMetric to develop and launch a new tool that helps users identify a post 2020 fuel procurement strategy on a vessel-by-vessel basis with the goal of minimizing overall bunker costs.
Called SEER (Sulphur Emissions Evaluation and Risk management) the tool will look at a range of factors that impact bunkering decisions, including fuel price forecasts, trade patterns, and time spent in Emission Control Areas (ECAs).
It will also allow users to evaluate the cost impact of using different compliance strategies for IMO2020, such as using HSFO with a scrubber, switching to liquefied natural gas (LNG), or simply burning compliant distillates.
It is envisaged that the tool will be available to customers via a web portal or as a dashboard within their own systems infrastructure.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 560.50 | 7.00 | 669.00 | 4.00 |
| Rotterdam | 512.50 | 2.00 | 653.00 | 2.00 |
| Houston | 548.00 | 3.00 | 671.00 | 0.00 |
| Fujairah | 549.00 | 6.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 577.50 | 3.50 | 749.50 | 1.50 |
| Global 4 Ports Average | 542.50 | 3.50 | 685.00 | 0.50 |
| Global Average Bunker Price | 628.50 | 1.50 | 800.50 | 1.00 |
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