China says no ban on open loop scrubbers in sight
26 September 2018China officials have confirmed that there are no plans to impose a ban on open loop scrubbers in the country, as long as they are in compliance with prevailing regulation.
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China officials have confirmed that there are no plans to impose a ban on open loop scrubbers in the country, as long as they are in compliance with prevailing regulation.
One of the most hotly debated subjects in the shipping markets this year has been the approaching IMO global sulphur cap of 0.5% on marine bunker fuels in 2020. In particular, a lot of discussions have been focused on scrubbers. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
BIMCO's position has been approved by the BIMCO Board of Directors.
The oil market has recently been shaken up by geopolitical events, but volatility in the price difference between low and high sulphur fuel cannot be explained by that alone – the uncertainty is the chaos factor.
Angus Frew, current Secretary General & CEO of BIMCO, will extend his tenure by one month until the end of September 2020.