It has been a smooth transition for the shipping industry following the implementation of the International Maritime Organization’s IMO2020 sulphur cap, with only 10 reported cases of compliant fuel being unavailable since the start of the year.
IMO secretary-general Kitack Lim said the ease with which the shipping industry had been able to meet the new regulatory standards was a testament to their commitment in the fight against climate change.
"I believe it is testimony to the diligence and dedication of IMO, its member states, the shipping industry, the fuel supply industry and other relevant industries that such a major rule change is being implemented successfully, without significant disruption to maritime transport and those that depend on it,” said Lim in a statement on Tuesday.
The IMO sulphur cap, implemented on 1 January, compelled the industry to reduce the sulphur content in their fuel from 3.5% to 0.5%. Despite initial price hikes for compliant fuels, the market has started to stabilise.
"The next important target is fast approaching, when carrying non-compliant fuel oil on board ships becomes prohibited on 1 March,” said Lim. “I urge all ship owners, operators and masters to comply with the carriage ban, where applicable, when it comes into effect,” he concluded.