IMO marine fuel requirement sets shipping industry for a comeback in 2020

SINGAPORE: The global shipping market is set for a recovery, benefiting from new global rules on marine fuels that came into effect at the beginning of the year after more than a decade of tough market conditions, according to IHS Markit.

In the biggest shake-up for the oil and shipping industries in decades, the IMO banned from the start of 2020 ships from using fuels with a sulphur content above 0.5%, compared with 3.5% previously, unless they are equipped with sulphur-stripping devices known as scrubbers. “Considering the fact that fleet supply will likely tighten due to scrubber retrofitting and potential demolitions, given that demand remains healthy, we may see stronger freight rates this year,” said Dalibor Gogic, principal analyst at IHS Markit.The dry bulk market, whose fleet is expected to grow 3% in 2020 compared with 3.8% in 2019, is on a long-term recovery cycle, primarily driven by supply normalisation, said IHS.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

5 budget variants of flagship smartphones that will hit the market in 2020 | Malay MailNEW YORK, Jan 21 — Over the past few years, it’s been increasingly popular for leading smartphone manufacturers to launch “lite” versions, or less expensive derivatives, of their flagship devices. Here are five budget-friendly handsets based on some of the most advanced...
Fonte: malaymail - 🏆 1. / 86 Leggi di più »