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BIMCO’s 2020 Bunker Clause working group is pushing hard to finish work on two key clauses addressing the global switch to 0.5% sulphur content fuel on 1 January 2020.
BIMCO has today voiced serious concerns about some of the conclusions of the official study that will inform the decision of the MEPC over the implementation date of the 0.5% global sulphur cap.
Even with the sulphur cap expected to give a boost to the tanker market, high fleet growth will put pressure on earnings.
A “Power panel” debate on the dry bulk and oil tanker shipping markets, including the 2020 global sulphur cap experiment. Sign up here
On 22 July 2019 China Maritime Safety Administration (MSA) issued the “ Implementation Scheme of the IMO 2020 Sulphur Cap ”.
Currently, four sulphur emission control areas (ECAs) are designated under MARPOL Annex VI. In addition, national sulphur emission control areas have been designated in some countries.
It is a daunting task so prepare a fleet of ships for the sulphur regulations. Therefore, BIMCO has, together with the partners behind a new IMO-proposal, made a draft for an implementation plan for achieving compliance with the 0.5% global sulphur cap. The plan has the additional purpose of showing the good faith of the ship operator during inspections.