Reefer container freight rates will go up by as soon as the second half of 2019, ONE ceo Jeremy Nixon said at the 4th Cool Logistics Asia in Hong Kong.
Japanese container line Ocean Network Express (ONE) is likely to use mainly compliant hybrid fuels to meet the 2020 0.5% sulphur cap.
AP Moller - Maersk has moved to ensure a supply of 0.5% low sulphur fuel oil come 2020 with a joint bunkering facility with Vopak in the Port of Rotterdam.
The introduction of the 0.5% low sulphur cap for marine fuels from 2020 is expected to increase losses dues to machinery failures according to insurer QBE.
The International Maritime Organization (IMO) has started a study for a new 0.1% low sulphur emission control area (ECA) in the Mediterranean.
With the deadline for the 0.5% global sulphur cap less than 19 months away and informal poll of shipowners and operators by classification society ABS found that 53% of owners and operators fleets were not ready to meet the regulation.
Physical bunker supplier Bomin has started to offer ultra-low sulphur fuel oil (ULSFO) in the Amsterdam – Rotterdam – Antwerp (ARA) region in Northwest Europe.
The aim of making shipping greener is one that will take many steps to achieve, International Chamber of Shipping (ICS) chairman Esben Poulsson told Seatrade Maritime News.
Analysts at investment bank Morgan Stanley have predicted that crude oil prices could spiral to $90 a barrel by 2020 as the IMO’s 0.5% sulphur cap boosts demand from ship operators for more refined products.
Vincent Wee talks to International Chamber of Shipping (ICS) secretary-general Peter Hinchliffe and chairman Esben Poulsson about the complexities of achieving successful yet cost effective regulations for shipowners.