News and Events

New fuel rules set to push up cost of sea transport

  • Under the new rules, shipping lines are required to refuel with the more expensive low sulphur fuel oils (LSFOs) and not the high sulphur fuels oils (HSFOs) that is currently being used.
  • Ships are required to have complied with the IMO rules by January next year.
  • Some shipping lines have already alerted their customers on the impending rise in freight charges. For instance, German shipping line, Hapag Lloyd, late last year stated that its operating costs are set to go up as it complies with the new regulations.

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