The International Maritime Organization (IMO) is an agency of the United Nations, responsible for the safety and security of the shipping industry and regulating maritime pollution of ships.
The International Convention for the prevention of pollution from ships (MARPOL) is the main International convention covering the prevention of damage to the marine environment by ships through operational or accidental causes.
IMO has set a regulation to limit Sulphur content in fuel oil to less than 0.5% effective 1 January 2020. (The current global limit for Sulphur content in fuel oil is 3.5%)
This will be implemented in efforts to drastically reduce the amount of Sulphur Oxide emitted from ships for the benefit of present and future generations.
Please be aware that there will be increased costs associated with these measures from the shipping lines to recover the costs throughout the entire shipping and supply industry.
Most shipping lines have announced that the cost increases will be effective from 1 December 2019 as they ready themselves to comply to the new legislation and be IMO2020 compliant.
The surcharge - Low Sulphur Adjustment (LSA) will be reviewed monthly by carriers.
DP World has advised of another increase to their wharf infrastructure levy from 1st Jan 2020
Once pricing is confirmed CGL will update rates accordingly
Notice for importers that the rules for importing hydrochlorofluorocarbon (HCFC) Equipment are changing on 1 January 2020
For more information, please CLICK HERE