IMO2020 – What’s the Impact?

New IMO2020 regulations coming into force have got the industry’s attention. What is this regulation? What will it mean and how will it impact us? We asked Alok Sharma of InaTech. ComTech Advisory: We notice that Inatech has been very active in covering the new IMO2020 regulations. Can you tell our readers what this is and why it is so important? Alok Sharma: From January 1, 2020, the level of sulphur permitted in shipping fuel will be cut to 0.5% from 3.5% currently. The regulations will trigger the biggest and most sudden change the shipping industry has ever seen. Overnight, about 90% of global demand for bunker fuel must switch from Heavy Fuel Oil (HFO) to low-sulphur alternatives and no one knows quite what will happen. The closest event in terms of seismic change was when sulphur emission control areas (SECAs) came into effect in January 2015, but that only affected about 6-7% of total fuel consumption. At Inatech, we provide system solutions to both the marine bunkering and oil trading sectors so we understand how both industries operate and we are supporting our marine industry clients as they get to grips with the new bunker trading environment. ComTech Advisory:… continue reading

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