IMO 2020

The implementation of the IMO 2020 marine-fuel regulation has gone completely off script. Marine-fuel pricing has actually fallen year-on-year and the predicted savings from exhaust-gas scrubbers have increasingly evaporated. What happened and what's next? The IMO 2020 rule, effective Jan. 1,...

While there were no surprises in a report on the cause of last year's Yantian Express fire, it could be years before the International Maritime Organization (IMO) amends onboard safety regulations, according to the International Union of Marine Insurance (IUMI). "It addresses exactly what we state...

The U.S. Department of Justice said in a press release on February 26 that a Singapore-based tanker operator pleaded guilty in a northern California district court to illegally dumping oil bilge into the sea. According to the department, Unix Line PTE Ltd.'s 16,408 gross-ton tanker, Zao Galaxy,...

AP Moller Maersk (Copenhagen: MAERSK-B), the largest container-line operator in the world, announced better-than-expected guidance for 2020, but that guidance has high downside risk due to the coronavirus. On Thursday, Maersk reported earnings before interest, tax, depreciation and amortization (...

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.  The latest revision to International Maritime Organization (IMO) regulations, known as IMO 2020, calls for cutting emissions of sulfur oxide (SOx) from ocean...

The U.S. Justice Department on Monday announced that a Singapore ship operator had pleaded guilty in federal court to illegally dumping oily bilge overboard and will pay a fine of $1.75 million. According to the District Court of Hawaii, Bernhard Schulte Shipmanagement (Singapore) PTE Ltd. also...

The single most important vessel-supply question for the coming decades is: Will the ocean shipping industry decarbonize on a global scale? Even those who view carbon reduction with contempt and are entirely focused on their own bank accounts take this question very seriously, given the enormous...

Getting a handle on spot pricing for tankers and bulkers has always been tricky. In 2020, it has become dramatically more complicated, courtesy of new fuel regulations and intensifying rate and fuel-price volatility. Thursday's analyst call by crude-tanker owner DHT Holdings (NYSE: DHT) as well as...

The price of diesel was supposed to rise because of IMO 2020. It hasn't. What happened? Join Drilling Deep host John Kingston as he talks about why the price impact from IMO 2020 in the diesel market has nowhere near played itself out yet and why the consumers of diesel still need to watch for...

It was conventional wisdom, accepted by all – the price of diesel was going to rise, and IMO 2020 was the cause. One example of many, a report by the Fitch ratings agency, was published in August 2019. "Fuel switching due to IMO 2020 will drive a large and sudden shift in demand for diesel in...

While the seers of the future continue to predict the ultimate demise of the nation's oil and gas industry, there are still markets that need to be serviced, including the marine fuel low-sulfur market that is now operating under IMO 2020. The quarterly reports of several companies, both...

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. The United Nations' International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement begins in earnest on...

The relative weakness in diesel prices four weeks into the start of the IMO 2020 regulations does not surprise Marathon Petroleum Corp (NYSE: MPC) CEO Gary Henninger. Henniger, on a conference call with analysts after the release of the company's fourth-quarter earnings, said the independent...

Price swings in the largest market for marine fuel are filtering down the supply chain as major ocean carriers ask customers to cover costs for using low-sulfur fuel blends. Maersk last week said in a customer advisory that ocean freight tariffs across all trade lanes will increase by $50 to $200...

The United States is sharpening its focus on enforcement of the IMO 2020 fuel sulfur emissions cap, which could result in harsh penalties for vessel operators caught attempting to sidestep the regulation. In new guidance issued by the U.S. Coast Guard (USCG), vessels calling on U.S. ports will be...