Shining a light
The proposed IMO ban would allow exemptions and waivers resulting in 84% of Arctic shipping continuing to burn HFO in the Arctic, and permitting 70% of vessels to still carry HFO as fuel.
The Clean Arctic Alliance, Iceland Nature Conservation Association and Green Transition Denmark urge Nordic ministers to ban the use of heavy fuel oil in Arctic Waters.
Clean Arctic Alliance, Iceland Nature Conservation Association urged ban of use and carriage of heavy fuel oil.
Singapore is committed to reducing the environmental impact of shipping by strictly enforcing the IMO 2020 regulation.
Singapore authorities confirmed that there is no serious impact on oil trading and bunkering sectors and the banking system remains sound.
The Singapore police is investigating oil trader Hin Leong after founder admitted cover-up of US$800 million losses.
The range of risks facing company executives, as well as the resultant insurance claims scenarios, has increased significantly in recent years.
Shipowners reported that scrubbers were capable of reducing sulphur emissions down to 0.10%, more than the required 0.50%.
As trade takes a hit across the globe falling victim to COVID-19, some shipowners have sounded out an SOS asking for some leeway in meeting the IMO 2020 directive.
Information from various sources has indicated a relatively smooth transition to the 0.50% sulphur limit. Prices for compliant fuels – very-low sulphur fuel oil (VLSFO) and marine gas oil (MGO) rose quickly initially but now appear to be stabilizing.
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