As of 1 January 2015, ships operating in designated Sulphur Emission Control Areas (SECAs) have been required by law to use fuel oil with a sulphur content of no more than 0.10%, against the old limit of 1%. The Geos Group supplies low-sulphur 1000ppm marine gas oil exclusively and, since these stricter regulations have come into effect, we have noticed an increase in spot enquiries.
“We have seen some uplift in spot demand for MGO since January”, says Adrian Proctor, Commercial Director of the Geos Group, “and we are in discussions with several customers about meeting their future fuel requirements on a contract basis – an arrangement that can ensure a secure, reliable supply source and more favourable pricing”.
The emission control areas established under MARPOL Annex VI Regulation 14 are the North Sea, the Baltic Sea, North American coastal areas and the United States Caribbean Sea. It is likely that all ships worldwide will be subject to a new lower limit of 0.5% sulphur content in all fuel by 2020 – a global cap set by the International Maritime Organisation (IMO).
Source: Geos Group
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