IMO 2020 rule to leave container shipping lines with US$1bn fuel bill
Tue. 29 Oct 2019Drewry Shipping Consultants estimates container shipping lines will face an US$11 billion fuel bill next year on account of the switch to low sulphur marine fuel in order to meet the International Maritime Organization's (IMO) new rule that caps sulphur content to 0.5 per cent from January 1. As a result, carriers will likely pass on the extra fuel costs to shippers. If they fail to foot the bill, the carriers are expected to cut service levels.