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MSC Facing $2 Billion Cost For Complying With New IMO Ship Fuel Standards

MSC facing $2 billion cost for complying with new IMO ship fuel standards

MSC Facing $2 Billion Cost For Complying With New IMO Ship Fuel Standards

Genoa, Italy (PortSEurope) December 3, 2018 – The Mediterranean Shipping Company (MSC) has detailed the extent of the sums envisaged for the adjustment of the cost of fuel that will be introduced from the January 1 with a view to the entry into force on January 1, 2020, of the new international standards adopted by the International Maritime Organization (IMO) on the limit of sulfur content in marine fuel.

The company, underlining that the transfer of the costs is vital to ensure a sustainable future for the containerised shipping sector, has specified that it considered essential to transparently separate the costs related to fuel so that they can be transferred in an orderly and open manner along the whole transport chain.

In addition, MSC has specified that the costs that the company is supporting to bring its fleet and fuel supplies in line with the new international fuel standards will amount to over $2 billion (€1.77 billion), a figure similar to that estimated by the Danish Maersk Line, which is a world leader of the sector in front of the MSC.

Source: InforMare

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