OIL giant ExxonMobil says it will produce residual fuels for ships that comply with the requirements of the UN's International Maritime Organisation's (IMO) 0.5 per cent cap on the sulphur content of marine bunker fuel that goes into effect January 1, 2020.
ExxonMobil said the fuel will be available before to the IMO deadline at Antwerp, Rotterdam, Genoa, Marseilles, Singapore, Hong Kong and Laem Chabang in Thailand. Additional locations, it said including North America, will be announced later this year.
There has been widespread concern that not enough low-sulphur fuel may be available for shipping companies when the sulphur cap goes into effect, reported American Shipper.
Shipping companies can continue to use high-sulphur fuel if their vessels are equipped with scrubbers or they can power their vessels with alternative fuels such as LNG, but it is thought only a limited number of companies will be able to install scrubbers or LNG fueling systems in time to meet the deadline, meaning they will have to rely on low-sulphur fuel to power their ships.
The Organisation of Petroleum Exporting Countries (OPEC) has warned that 'potential shortages of compliant fuel are possible.'
ExxonMobil said the fuel will be available before to the IMO deadline at Antwerp, Rotterdam, Genoa, Marseilles, Singapore, Hong Kong and Laem Chabang in Thailand. Additional locations, it said including North America, will be announced later this year.
There has been widespread concern that not enough low-sulphur fuel may be available for shipping companies when the sulphur cap goes into effect, reported American Shipper.
Shipping companies can continue to use high-sulphur fuel if their vessels are equipped with scrubbers or they can power their vessels with alternative fuels such as LNG, but it is thought only a limited number of companies will be able to install scrubbers or LNG fueling systems in time to meet the deadline, meaning they will have to rely on low-sulphur fuel to power their ships.
The Organisation of Petroleum Exporting Countries (OPEC) has warned that 'potential shortages of compliant fuel are possible.'