Changes Are Coming

27 Dec 2019: IMO 2020 Will Become Reality on January 1st

When the clock strikes 12 midnight on December 31st, the new IMO 2020 bunker fuel regulations will become effective. To be compliant, shipowners worldwide will have to switch to low sulphur fuels (0.5%) or use scrubbers to clean their exhaust gasses. Obviously, shipowners, charterers, refiners, bunker suppliers and other market participants do not wait until December 31st to make changes.

Significant preparations have been underway for weeks, months and, for some companies, years to make sure that the changeover will be as smooth as possible. The IMO has stated that they are ready, and they have expressed confidence that IMO member states and the shipping sector are ready as well for January 1. However, a transformation of this magnitude will likely create problems, uncertainties, risks as well as opportunities.

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