Maersk fuel costs will increase by USD 2 Bn with OMI 2020 regulation
MAERSK OMI SULPHUR CAP: It is expected that the 2020 sulfur regulation imposed by the IMO, which prohibits ships from using any marine fuel with a sulfur content higher than 0.5% from 1 January 2020, imposes a heavy burden on the shipping lines as it is It is likely that annual fuel costs for the maritime industry will reach USD 60 billion, including USD 10 billion, only for the container ship sector.
According to information from World Maritime News, the annual fuel bill of the Danish shipping giant APMoller Maersk will increase by US $ 2 billion a year, at least, amid the rising costs of the implementation of the 0.5 percent sulfur limit imposed by IMO in 2020.
They reported that the company spent USD 3.37 billion on fuel last year, which means that new regulations will almost double these extensions.
Maersk meanwhile plans to comply with the new rules by using fuel with low sulfur content. The company said previously that it was not investing in debuggers taking into account several operational concerns.
Maersk already took a step forward and adapted to Royal Vopak, an independent tank storage operator, in a project to launch a 0.5 percent sulfur fuel facility in Rotterdam.
Thus, Maersk will be able to supply its ships with compatible fuel in the modified facilities of Vopak in Vopak Terminal Europoort.