Chevron announced that it will bring an IMO-compliant 0.5% sulphur shipping fuel blend to the market by the end of Q3. As Chevron Fuels Technologist Monique Vermeire commented to Reuters, ‘If the shipping company is willing to try it out now we can make it available, but not for continuous purchase.’
She continued that most likely, the fuel will be available for purchase by the end of the third quarter.
Reuters highlights that analysts and shipping firms wait the evolution of smaller ports will face, concerning fuel compliance, keeping in mind that the shipping industry is aware that major fuel bunkering ports such as Singapore, Fujairah in the United Arab Emirates and Rotterdam in the Netherlands will have compliant-fuel supplies.
In addition, Ivar Myklebust, chief executive of Norwegian shipping firm Hoegh Autoliners, commented in a panel panel discussion in Nor-Shipping Conference that
I would like to see global standard ISO certificated low sulphur fuel oil. Yes, we understand we need to pay more, but what is the reference?
As there is no specific certification concerning fuel compliance and scrubber technologies, the shipping industry is rather troubled in entering contracts.
Moreover, shipowners also believe that by mixing different batches of very low sulphur fuels, it could lead to the creation of a sediment that could damage a vessel’s engines.
Oil majors BP and Royal Dutch Shell have also said they are developing very low sulphur fuels to meet the 0.5% requirement.