Low Sulphur IMO 2020 Emission Regulation
As you may be aware new fuel regulations for Global Shipping stipulate that fuel utilised should have no more than 0.5% sulphur content reducing from the current 3.5%. The date for this new regulation will be 01/01/2020. The current regulation of 0.1% low sulphur will remain in the emission control areas of Europe at the current prevailing ECA rate.
To comply with the new regulations, we have started to flush all ships tanks with the new low sulphur fuel, which will be completed by the end of November 2019.
A new BAF rate will be applicable from voyage GL19049 for both Vlissingen (ETS 05/12), and Portsmouth (ETS 08/12). We are however unable to advise what our BAF rates will be for the above vessel due to lack of clarity within the market, fluctuating rates and limited supply. The current rate is circa USD 150 per ton higher than current bunkers.
We hope to be able to advise in the coming weeks the rates for above vessel and will announce as soon as we possibly can.
Please do not hesitate to contact us if you have any questions or queries.