Are you Ready for the 2020 IMO Sulfur Cap?
So what is IMO 2020?
On 1 January 2020, marine sector emissions in international waters must be slashed significantly. The marine sector will have to reduce sulfur emissions by more than 80 percent by switching to lower sulfur fuels. Low sulfur fuels are more expensive since they require more refining. Subsequently, those higher costs could be passed along in the form of higher freight rates.