Braemar ACM ups expected compliance with IMO 2020 to 90% globally

Braemar ACM Shipbroking has upped the level of compliance it expects from shipping globally with the IMO 2020 regulation to 90%.

Speaking at seminar by scrubber manufacturer Clean Marine in Singapore, Anoop Singh, regional head tanker research (East of Suez) said at the start of the year it had expected non-compliance with the IMO 2020 sulphur cap to be around 20%, but it has now changed this forecast to a level of 10%.

Singh noted it was unusual for the shipbroker to change its view and that was, “Kind of symptomatic of how the industry is still unsure exactly how IMO 2020 will take shape”.

Breaking down the reason for its more positive outlook on global compliance with IMO 2020 he said. “We’ve increased our view of the volume very low sulphur fuel that will be consumed by shipping in 2020 and beyond.”

In terms of bunkers are sold Braemer sees that around 70% of marine fuel volumes are sold in areas were compliance with IMO regulations is relatively robust, and the broker has allocated a 95% compliance level to these regions.

“We thought in other parts of the world parts of Southeast Asia, parts of Africa, and parts of Latin America we were anticipating 50% compliance, we’ve increased our view to 75%. So that gives us our view on 90% aggregate compliance,” Singh explained.

Posted 6 November 2019

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Marcus Hand

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Editor, Seatrade Maritime News Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with nearly two decades of experience covering the shipping industry in Asia. In addition to running Seatrade's maritime and offshore news website based from Singapore he is the Asia Editor of Seatrade Maritime Review. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Prior to joining Seatrade at the beginning of 2010 Marcus worked for shipping industry journal Lloyd's List for a decade and previous to that the Singapore Business Times covering shipping and aviation.

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