Sea Freight

Shipping Comes to Terms With $50 Billion Clean-Fuel Bill

Shipping Comes to Terms With $50 Billion Clean-Fuel Bill 0 0 La Chang

The biggest change in ship propulsion since the maritime industry moved from coal to heavy oil early in the 20th century will be the introduction of low-sulfur fuels in oceangoing vessels next year to meet new emissions standards .

The new formulation of low-sulfur fuel is supposed to replace bunker, which propels most of the world’s oceangoing vessels.

The emissions mandate taking effect at the start of 2020 cost the industry up to $50 billion and will affect at least 60,000 vessels according to shipping executives’ estimates.

Besides, the shipping world faces a new consensus that customers will have to bear the higher costs across supply chains, as long as carriers are clear and transparent about how much more they have to pay to keep ships moving.

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