IMO 2020 REGULATIONS

WFS Posted A 54.3% Fall In Net Income

New York-listed oil and bunker trading firm World Fuel Services (WFS) on Thursday (29 April) posted a 54.3% fall in net income for the three months ended 31 March (Q1) 2021 due to the coronavirus’ impact on the aviation sector, reports Manifold Times.

Impact On The Global Economy

The company’s net income was USD 18.9 million in Q1 2021, compared to USD 41.4 million during Q1 2020, showed financials.

“Throughout 2020, the COVID-19 pandemic had a significant impact on the global economy as a whole,...

https://mfame.guru/wfs-posted-a-54-3-fall-in-net-income/

Dry Bulk Market In Limelight With Recent Freight Rate Surge

Interest in the dry bulk shipping segment, a sector that has been off the radar for more than a decade, is getting strong, against the backdrop of surging freight rates driven by an unexpected commodity boom during the Covid-19 pandemic, reports The Edge Markets.

Doubled average rates

The Baltic Exchange Dry Index, which tracks freight rates across different vessel sizes, started the year higher than pre-pandemic levels, and is currently double its five-year average at 2,472 points as key markets...

https://mfame.guru/dry-bulk-market-in-limelight-with-freight-rate-surge/

Shipbuilders Focus More On Design To Achieve Better Efficiency

  • The IMO 2020 regulations, along with the promise of further mandates down the line, are pushing ship designs forward.
  • With the IMO 2020 regulations now in place and future regulations in the pipeline, shipbuilders and ship purchasers alike are planning ahead for a future.
  • Reducing the environmental impact of shipping is urgent: according to the Clean Shipping Coalition, a global environmental coalition exclusively dedicated to shipping.
  •  It is imperative that ship owners in particular take...

https://mfame.guru/shipbuilders-focus-more-on-design-to-achieve-better-efficiency/

Wärtsilä’s Cruise Waste-To-Energy Solutions To Reduce Carbon Footprint

  • Cruise Lines International Association and its members vowed to cut carbon emissions resulted the cruise sector to be first in the maritime industry to jointly commit to reduce its carbon footprint.
  • Carnival Corporation announced its 2020 sustainability goals focused on environmental, safety, labour and social performance.
  • Wärtsilä offers a complete waste-management portfolio, that has the capability to deal with every kind of waste.
  • The technology to be tested on one of Carnival’s existing...

http://mfame.guru/wartsilas-cruise-waste-to-energy-solutions-to-reduce-carbon-footprint/

107 Maritime Chiefs Call for Ship Speed Limits To Cut Emissions

According to a Financial Times articles, more than 100 maritime chiefs have urged the IMO to take measure to tackle climate change as the 2015 Paris climate agreement, don’t have provisions for emissions from international shipping and aviation which by law, do not come under any country’s jurisdiction.

IMO’s New Rules

In April 2018, the International Maritime Organization (IMO), which regulates shipping on the high seas, laid out plans to cut emissions from the sector by 50% by 2050, when...

http://mfame.guru/107-maritime-chiefs-call-for-ship-speed-limits-to-cut-emissions/

IMO 2020 Effect on the Fuel Bunker Mix Short – and Long Term

As the global shipping industry is sailing towards the major change in bunker fuel regulations by IMO from January 1, 2020, a forecast on the volatile transition is stated in a press release published on Rystad Energy website.

Here’s an excerpt from it.

The stringent regulation

The International Maritime Organization’s (IMO’s) bunker fuel regulations comes into effect on January 1, 2020.

The sulfur content limits in bunker fuels used outside the designated Emission Control Areas (ECAs) will be...

http://mfame.guru/imo-2020-effect-on-the-fuel-bunker-mix-short-and-long-term/

RPT-COLUMN-Oil Traders Wait To Assess Impact of IMO Regulations

If oil traders and consumers are worried about the impact of new maritime fuel regulations from the start of next year, they have not yet started to mark up prices for low-sulphur middle distillate fuels, writes John Kemp in an article published in Reuters.

Industry gearing up

Under new rules agreed by the International Maritime Organization (IMO), ships will be forced to switch to using low-sulphur fuels rather than high-sulphur residual fuel oil, or fit scrubbers to remove sulphur dioxide...

http://mfame.guru/rpt-column-oil-traders-wait-to-assess-impact-of-imo-regulations/

Shell Marine To launch New Lubricant Ahead of IMO 2020 in Singapore

Shell Marine launches Shell Alexia 40 lubricant ahead of IMO 2020 regulation changes, reports Seatrade Maritime News.

Shell Alexia 40 ahead of 2020

Shell Marine will introduce its new two-stroke engine cylinder oil dedicated for use with ship engines running on 0.5% sulphur fuel into the Singapore market this year, ahead of the IMO 2020 regulation.

With a base number of 40, the new Shell Alexia 40 has been developed to optimise equipment performance and condition as shipowners and charterers...

http://mfame.guru/shell-marine-to-launch-new-lubricant-ahead-of-imo-2020-in-singapore/

Ocean Network Express Includes Scrubber Options Ahead of IMO 2020

Box ship operator Ocean Network Express (ONE) has decided to fit emissions abatement technology onto 10 of its vessels, says a press release published on Ship and Bunker website.

Scrubber installation

CEO Jeremy Nixon, speaking at TOC Asia conference in Singapore, said some of its owned ships would be equipped with scrubbers when in dry dock while short-term chartered vessels would come with the equipment already installed.

Still prefer alternative fuels

The executive said his company was no great...

http://mfame.guru/ocean-network-express-includes-scrubber-options-ahead-of-imo-2020/

Ship Owners Worry as Ports Ban Economical Option ‘Scrubbers’

  • Many ports are banning one of the cheapest options for meeting new environmental shipping rules imposed by IMO.
  • The fuel cleaning system pumps waste water into the sea and this is the reason sighted for the ban.
  • Cruise and shipping firms might have to pay for new equipment and extra types of fuel and adjust their routes.
  • Companies invested in open loop scrubbers cannot use them in those banned ports and they also fear if IMO rules could change to ban open loop scrubbers altogether.
  • The world’s...

http://mfame.guru/ship-owners-worry-as-ports-ban-economical-option-scrubbers/

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