COSCO Shipping Lines has reached to a low sulphur fuel oil (LSFO) supply agreement with Double Rich Limited, which is a subsidiary of China Marine Bunker (Petro China). Double Rich will now supply COSCO with compliant 0.5% fuel, complying with the upcoming IMO 2020 sulphur cap.
Specifically, COSCO said that this agreement promotes the company’s emission reduction technology, and it improves its management pattern. COSCO will now also advance its GREEN Shipping.
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It also explained that this agreement constitutes an important measure of its attempts to meet MARPOL requirements. For this reason, COSCO will ensure LSFO supply by multi-sourcing.
In the meantime, the shipping giant follows main stream market and implements the research, development and application of scrubbers. In fact, a pilot installation of scrubbers for 2 vessels has taken place, while more vessels will be equipped with this technology.
Regarding the future, COSCO says that it will comply with regulations, and it will implement its GREEN concept by forming collaborations with partners and global major fuel suppliers.
