CSA 2020 executive director comments on bunker prices

CSA 2020 executive director comments on bunker prices

Ian Adams, executive director of the Clean Shipping Alliance 2020 has released a statement on current bunker prices and the use of marine scrubbers, also known as exhaust gas cleaning systems (EGCS).

 “Given the unprecedented circumstances we all find ourselves, we should not dwell too much on the narrowing fuel price spread. Bunker prices will undoubtedly be distorted due to the difficult and challenging post-coronavirus market, exacerbated by the spat between Russia and Saudi Arabia which is culminating in an oil surplus in a market where demand has reached a nadir.

“Certainly, media reports concerning the narrowing of fuel prices should not be a deterrent to the wider take-up of marine EGCS as the technology remains the optimal, most effective means of meeting MARPOL Annex VI requirements. The use of EGCS also avoids the uncertainty surrounding the quality and availability of VLSFO.

“Existing and new users of EGCS have invested in the technology first and foremost to reduce the impact of sulphur emissions on human health. Indeed, with members of the Alliance reporting that their installations are reducing sulphur emissions down to less than 0.1 per cent, well below the mandatory 0.5 per cent, then their investments can be considered not only sensible but successful.”