From December 1st, 2019, the new IMO (International Maritime Organization) 2020 Low Sulphur Regulation will be in effect. All sea-going vessels worldwide will have to comply and reduce their sulphur emissions by 85%.
To comply with the Regulation, sulphur in fuel oil must be reduced from 3.50% to 0.50%, in addition to the 0.10% sulphur limit already effective in the Emission Control Areas (ECA). This aims to reduce the amount of sulphur oxide emissions and should have major health and environmental benefits globally, including improving air quality and reducing risks of acidification of the oceans.
The LSS20 tariffs have been calculated using the price difference between high sulphur fuel and low sulphur fuel average prices of October 2019.