The predicted impacts of new emission rules for merchant ships – higher operating costs and fuel shortages – could cause shipment disruptions when the new regulations are implemented in 2.5 years.
Meeting the new regulations, passed to lower Sulphur emissions, will cost an estimated $60 billion, a huge financial challenge for an industry that is already struggling financially. Fuel shortages are predicted because oil refiners say they do not have enough capacity to produce the required low-Sulphur fuel.
Industry observers are predicting that it will be difficult to tell which carriers have complied with the new regulations, which could lead to some vessels being barred from making deliveries, disrupting shipments.
For more information, contact David Lychek, Manager – Ocean & Air Services.