The cost of marine fuels is down sharply from the wartime peak, except for ‘clean’ LNG, which is getting even more expensive.
OOIL reports record revenue but has “legitimate concerns about the impact of inflation and interest rate rises on consumer spending.”
It took longer than expected, but the IMO 2020 investment pitch — save on ship fuel by installing scrubbers — is paying off big time.
The cost of ship fuel looks like it’s about to topple records set in 2012 and 2008.
Cost of fuel consumed by container ships, bulkers and tankers is effectively at a seven-year high.
Rising fuel costs are yet another woe for containerized cargo shippers, while widening spreads should benefit ships with scrubbers.
California will boost testing procedures to enforce distillate fuel regulations.
Ships found carrying noncompliant fuel risk detention, monetary penalties.
Ship owners failing to prove compliance face criminal fines and penalties.
U.S. Sen. Lisa Murkowski, says many analysts believe the impacts of IMO 2020 will be less than what was projected just a year ago.
