Concerns are rife that the new shipping policy of the International Maritime Organisation (IMO) will spike the cost of fueling ships to about $70 billion yearly. The 2020 sulphur regulation, which will ban ships from using any marine fuel with sulphur content above 0.5 pct effective January 1, 2020, may impose a heavy burden on owners, as the annual fuel costs for the shipping industry are likely to jump by up to $60 billion, including by $10 billion for the containership sector alone.
As a...