Ocean Fuel Rates Are About to Go Up In 2020

The International Maritime Organization (IMO) set a deadline for the mandatory use of new low-sulfur fuels across the global maritime fleet. The new regulations will enter into effect on Jan. 1, 2020, and are expected to become a major factor in the reduction of the environmental footprint of the world’s ocean freight carriers.

Shippers, however, expressed concerns about the limited supply of new fuel sources that can result in a price risings. Marine consultants note that switching to marine gas oil is a pretty costly solution that will probably be followed by serious increase in freight rates. 

Still, the IMO warned shipping companies about strict monitoring of their compliance with new regulations. 

It also was noted that ships can keep on using cheap high-sulfur fuel oil if they install emission abatement technology or scrubbers. However, the majority of shipping companies and providers won’t be able to do so in time, as the 2020 deadline gets closer and the equipment itself is expensive. For many carriers, outfitting older vessels with scrubbers simply isn’t worth the cost. 

Will that influence EasyHaul customers?

Since EasyHaul collaborates with various shipping lines, new regulations regarding using expensive low-sulfur fuels may impact customers in terms of pricing. Shipping services, however, will remain the same high-quality level. To get a shipping quote for your transportation needs, use our online calculator

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