IMPORTANT NOTICE TO ALL CUSTOMERS
The International Maritime Organisation (IMO) has introduced new regulation to limit Sulphur Oxide in fuel oil used by ocean carriers from 3.5% to 0.50% m/m (mass by mass).
IMO 2020 is a regulation designed to reduce Sulphur oxide emissions from ships, which will reduce the harmful impact of the shipping industry’s by-product fuel emissions.
Lower sulphur emissions will improve air quality, particularly in port cities as well as lessen ocean acidification.
From January 2020 all ships and vessels operating anywhere in the world will be required to reduce their sulphur emissions in order to meet the 2020 target, many shipping lines have commenced implementing these changes.
Overall global costs are likely to rise by a whopping USD25 to USD30 Billion, as a result, shipping lines will be implementing increases in their fuel surcharge effective 1st December 2019.
Early indications are that it will vary from country to country and carrier to carrier with an approximate range anywhere from USD50 – USD300/TEU.
Some carriers have already started to impose levies, others have announced similar for exports.
For further information please contact your ADM Global business manager.
ADM Global Pty Ltd