As of 1 January 2020, all fuels used in ships, the so-called bunker fuel, which today consists mainly of fuel oil with a 3.5 per cent sulphur content, will have to be compulsorily 0.5 per cent worldwide (IMO2020), in practice a distillate very similar to diesel.

The IMO2020 regulation is the largest of a series of measures by the International Maritime Organisation (IMO) to reduce marine pollution.

The entire shipping industry will change dramatically, however, the IMO2020 regulation will make the industry greener.

For this reason, all shipping lines have welcomed the new regulation, seeing the initiative as an important step towards uniform standards that benefit both the environment and people.

This change will have profound implications not only on the economics of shipping, but also on the oil industry’s structure at both the production and distribution level.

In addition, we would like to inform you that all our all/in freight rates and/or bunker vatos (vaid at the time of shipment) will have to be reviewed and adjusted according to the levels of the new low-sulphur bunker.