Swordsmyth
10-19-2018, 06:32 PM
Europe’s fuel oil market was rattled on Friday by reports that the Trump Administration may look to slow down the introduction of the new regulations limiting sulfur content in ship fuel in order to stave off a potential spike in fuel oil prices that would burden consumers and businesses.
The International Maritime Organization (IMO) has set January 1, 2020, as the start date of the new IMO rules on using only 0.5-percent sulfur fuel oil on ships, unless said ships have installed scrubbers—systems that remove sulfur from exhaust gas emitted by bunkers.
However, the Trump Administration is looking to slow down the rollout by gradually phasing in the new regulations, in order to “mitigate the impact of precipitous fuel-cost increases on consumers,” the White House said in an email to The Wall Street Journal (https://www.wsj.com/articles/white-house-seeks-to-slow-rollout-of-rules-for-cleaner-ship-fuels-1539900741).
More at: https://oilprice.com/Latest-Energy-News/World-News/Europe-Fuel-Oil-Market-Rocked-As-US-Threatens-To-Slow-Sulfur-Cap-Rollout.html
The International Maritime Organization (IMO) has set January 1, 2020, as the start date of the new IMO rules on using only 0.5-percent sulfur fuel oil on ships, unless said ships have installed scrubbers—systems that remove sulfur from exhaust gas emitted by bunkers.
However, the Trump Administration is looking to slow down the rollout by gradually phasing in the new regulations, in order to “mitigate the impact of precipitous fuel-cost increases on consumers,” the White House said in an email to The Wall Street Journal (https://www.wsj.com/articles/white-house-seeks-to-slow-rollout-of-rules-for-cleaner-ship-fuels-1539900741).
More at: https://oilprice.com/Latest-Energy-News/World-News/Europe-Fuel-Oil-Market-Rocked-As-US-Threatens-To-Slow-Sulfur-Cap-Rollout.html