New York Mercantile Exchange (NYMEX) will launch trading for 11 marine fuel 0.5% futures contracts on the CME Globex electronic platform from 9 December this year, roughly one year ahead of IMO’s 2020 fuel sulphur cap regulation.
While the sulphur cap is still very much the issue of the day Martin Stopford, president of Clarkson Research Services, says the industry needs to start thinking now how it will meet the IMO's goal of a 50% reduction in CO2 emissions by 2050.
The use of scrubbers to meet the 2020 sulphur cap, their lack of regulatory framework, and impact on the market were very much under discussion at the Greener Shipping Summit in Athens last week.
Fuel tester Veritas Petroleum Services (VPS) is not expecting major problems with compliant 0.5% low sulphur fuel oil set to be used to meet the IMO’s 2020 sulphur cap.
Japanese shipowner NYK has released a concept design for a zero emission car carrier.
Feeder vessel owner MPC Container Ships has lined up a major potential scrubber orders for the majority of its fleet.
Torm has joined Frontline in investing in a scrubber manufacturer with the Danish shipowner forming a joint venture with ME Production and Guangzhou Shipyard International (GSI).
Norwegian paint manufacturer Jotun AS believes there is huge scope to raise hull and propeller operating efficiency by using shipboard data more effectively. According to Global Concept Director Stein Kjølberg, pictured, only about 15% of the world fleet is equipped with high-frequency performance monitoring equipment and only around 7-8% are using the data efficiently.
For suppliers facing the SOx scrubber boom, production shortcuts can be tempting. But you will rely on your SOx scrubbers throughout the vessel lifetime, so there’s no room for compromises on materials or quality.