Executive Briefings

Cap on Sulfur in Ocean Shipping Fuel May Be Instituted Five Years Ahead of 2025 Deadline

The International Chamber of Shipping says that the shipping and bunker refining industries should recognize that the global 0.5-percent sulfur-in-fuel cap, currently set to go into effect in 2025, may be implemented worldwide by 2020.

Speaking about the cap, required by the International Maritime Organization, ICS Chairman Masamichi Morooka says, “While postponement of the sulfur global cap until 2025 is still a possibility, the shipping and oil refining industries should not assume that this will happen simply because they are unprepared.  ICS has concluded that, for better or worse, the global cap is very likely to be implemented in 2020, almost regardless of the effect that any lack of availability of compliant fuel may have on the cost of moving world trade by sea”.

ICS members have therefore agreed that they will continue to work with the bunker refiners to help ensure that they will be ready, if necessary, to supply sufficient quantities of compliant fuel by 2020.

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Speaking about the cap, required by the International Maritime Organization, ICS Chairman Masamichi Morooka says, “While postponement of the sulfur global cap until 2025 is still a possibility, the shipping and oil refining industries should not assume that this will happen simply because they are unprepared.  ICS has concluded that, for better or worse, the global cap is very likely to be implemented in 2020, almost regardless of the effect that any lack of availability of compliant fuel may have on the cost of moving world trade by sea”.

ICS members have therefore agreed that they will continue to work with the bunker refiners to help ensure that they will be ready, if necessary, to supply sufficient quantities of compliant fuel by 2020.

Read Full Article