Directional impact on forecast:
Upbeat for LNG as a maritime fuel
The new International Maritime Organization (IMO) regulation on the reduction of the sulphur index in marine fuels came into effect on 1 January. According to the new regulation, ships are required to use fuels with a sulphur content of 0.5% instead of the previous limit of 3.5%.
Shipowners have three main options to meet the IMO 2020 standards. They can switch to very low-sulphur fuel oil (VLSFO); keep using high-sulphur fuel oil (HSFO)...