China Moves First to Adopt IMO Low-Sulfur Shipping Rules

摘要

Beijing is the first mover ahead of the global shipping sector’s switch to low-sulfur fuels on Jan. 1 2020. China has effectively launched its own experience-building phase (EBP) well before the implementation of new International Maritime Organization (IMO) rules slashing sulfur in bunker fuels. The IMO’s sulfur cap for bunkers is set to drop to 0.5% in 2020 from 3.5% currently, forcing sharply higher costs on the ship- ping industry with wide-ranging consequences for various other petroleum markets including jet fuel (JFI Oct.29’18). The US backed calls from flag states for a global EBP at the IMO meeting last October after warning an overnight ban on sulfur would cost the global economy $100 billion in 2020. Concrete EBP propos- als are due to be voted on at the next IMO Marine Environment Protection Committee meeting in May.