How IMO 2020 regulations will impact shipping companies
Since the irrevocable date for the enforcement of IMO 2020, which regulates the restriction of Sulfur in marine fuel, has been set for 1 January 2020, the shipping industry faces yet another challenge. Regulation 14 in Annex VI of MARPOL, states that sulfur content in gas emissions must be no more than 3.5% m/m. This regulation now has changed and starting January 1st 2020, the limit is lowered to 0.5% m/m in sulfur content. This thesis discusses the latest sulfur emissions regulations and the impact this will have on the shipping industry and the parties involved. Shipping companies and ship-owners were asked to make a choice that will allow them to operate their vessels within the new limits. They will have the option to choose an available method of compliance. This could be low sulfur content fuels such as MGO, alternative fuels such as LNG or installing gas cleaning systems on their vessels, commonly known as scrubbers. Furthermore, fuel manufacturers and suppliers of bunkers/refineries are responsible to keep up with changes in demand and supply as well as the needs of high quality and safe products. The new regulations among with their impacts and the available alternative solutions will be analyzed.