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Global marine fuel sulphur cap - challenges of a 2020 implementation


Global marine fuel sulphur cap - challenges of a 2020 implementation

Report summary

Regulations have now been adopted by the International Maritime Organisation (IMO) requiring all marine fuel used outside Emission Control Areas to contain less than 0.5% sulphur from the start of 2020. Compliance options, such as installing scrubbers on vessels, or switching to LNG are expected to have limited impact by 2020, so the main compliance option in 2020 will be switching to low sulphur distillate fuels. This will lead to a major price spike for distillate fuels and increased shipping costs. An implementation road map should be forthcoming at the next IMO meeting in May 2017 and there appears to be recognition that a period of transition will be required with the possibility of exemptions for vessels unable to source low sulphur fuel.

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Description

This Refining and Oil Products Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an alternative point of view to help inform your decision making.

With over 20 years of experience in the refining industry, Wood Mackenzie is a trusted global leader with a reputation for producing consistently reliable information.

Our senior analysts are based in the markets they analyse. They use detailed research data to forecast, benchmark and recognise trends that will help both new and existing participants identify opportunities and avoid risks.

  • Global marine fuel sulphur cap - challenges of a 2020 implementation
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