Environmental regulations 2020
We will inform you about new environmental regulations in shipping, which you may already have heard about from the media.
The IMO (International Maritime Organization) is issuing a global limit of 0.5% (instead of 3.5%) for the sulphur content of marine fuels as of the 1st of January 2020. Alternatively, the exhaust gases must be cleaned of sulphur using a "scrubber" (filter).
The upcoming limitation of maritime sulphur emissions is the result of comprehensive planned improvements with relation to sustainability and environmental friendliness in the shipping industry. The global limitation of sulphur content is the biggest change in marine fuels since the change from coal to oil, and initiates a new era of ship refuelling.
In the coming months, more and more ships will go to shipyards to be technically retrofitted with appropriate filters for exhaust gas purification. In addition, shipowners are beginning to clean the bunker tanks in order to be prepared for the takeover of low-sulphur fuel. Shipbrokers expect that the technical preparations could result in 1% or more of the worldwide fleet capacity being withdrawn from the market.
Based on this regulation, the freight charges might increase in 2020. However, it is too early to indicate which impact will occur. artimelt will do the most possible to leverage any price increase, however we need to reserves the right to adjust the prices even during the period of validity if needed.
We will continue to monitor this in detail and provide information on further developments.