The good news is that the international community has agreed to work together on reducing pollution in the oceans.
To comply with the Regulation, sulphur in fuel oil must be reduced from 3.50% to 0.50%, in addition to the 0.10% sulphur limit already effective in the Emission Control Areas (ECA). This aims to reduce the amount of sulphur oxide emissions and should have major health and environmental benefits globally, including improving air quality and reducing risks of acidification of the oceans.“
The bad news is that the clean fuel costs much more, and will be recovered by additional fuel surcharges added to the ocean freight. Different steamship lines are calculating it in different ways, and charge it based on the distance. Please expect price increases on December 1st in the range of $100- $400/ 40’HC.