The debate currently raging over the use of open-loop scrubbers to meet the requirements of the IMO’s 2020 0.5% sulphur cap for marine fuel represents a massive own goal by the industry - from both a PR and global regulatory perspective.
Hutchison Ports in Thailand is gearing up to handling larger vessels on the mainline east – west trades as it officially starts operations at its $600m Terminal D in Laem Chabang.
The OSV sector will need another five years for the supply glut to deflate as the market struggles through its worst recession that started five years ago, according to M3 Marine Group ceo Mike Meade.
The scale of the challenge facing ship operators as they prepare bunker tanks for new low-sulphur fuels ahead of the IMO’s 2020 sulphur cap may have been underestimated, according to some marine fuel experts.
Singapore is aiming to move forward with the digitalisation of shipping trade documentaton such as Bills of Lading (BLs) by developing standards inter-operability of different solutions that use technology such as block chain.
Technology companies present a future of a highly automated maritime industry, but what will this mean for those who work in shipping?
A total of 10 countries are set to ban or restrict open-loop scrubbers in some or all of their ports, and more are likely to follow, according to P&I club Gard.
Early assessments of the price spread between 3.5% high sulphur bunker fuel and 0.5% low sulphur fuel are indicated at as low as $40 to a high of $104 per metric tonne (pmt), according to data drawn from Platts and Taiwan’s oil refiner CPC Corp. The lower end of the scale would call into question the decision by many owners to invest in scrubbers based on the expected fuel price spread.
Cosco Shipping International has warned of a significant decrease in revenue amid an alleged fraud involving debts owed by its indirect wholly-owned subsidiary to embattled bunker supplier Coastal Oil Singapore.