Hunter is probably hoping to get locked up. Imagine being him right now. Liability to Daddy and Hillary.
I'm sure the guards will be more careful this time.
Not Interbank Offering Rate anon, this IBOR is Internet Bill Of Rights
About to be busy in the Los Angeles/Long Beach port complex. 15 large merchant ships inbound
The Bill of Rights in the Constitution has been under attack by the liberals for over a decade now. You have not heard the term "hate speech?"
Another hit is the UN-mandated change to low sulphur fuels or the installation of "scrubbers" but now the shipyard are backed up and there is only so much of the new fuel available.
>>7621049 (me)
A Major Shipping Change Is Coming, and So Are Higher Fuel Prices
December 19, 2019 by Bloomberg
By Firat Kayakiran, Jack Wittels and Rachel Graham (Bloomberg) –A defining moment in the history of the oil-refining and shipping industries is at hand.
In fewer than two weeks, thousands of ships the world over will be forced to use fuel containing less sulfur in order to comply with global rules set out by the International Maritime Organization. Those who don’t could face penalties and even imprisonment. Ports are deploying drones to — literally — sniff out wrongdoers. The regulations are having a profound effect on oil refineries and the cost of seaborne trade looks set to rise.
What’s the big deal? For decades, shipping has been the oil market’s dumping ground for a pollutant blamed on aggravating human health conditions including asthma and causing acid rain. That’s because refineries have struggled to eradicate it when turning crude into fuels. Even so, when the regulations were mandated back in October 2016, they came as a shock to many observers who had expected a later start date. While a panic about getting ready has subsided, there’s clearly still work to do — as a slump in the price of non-compliant fuel demonstrates.
“IMO 2020 is the most fundamental and dramatic product specification change the oil industry has experienced, with an impact on both shipping and refining,” said Torbjorn Tornqvist, the chief executive officer of Gunvor Group, one of the world’s largest oil and gas traders. “It has the potential to change every product and crude differential out there.”
The cost of shipping a twenty-foot box-load of goods from Latin America to Europe could rise by $26, according to IHS Markit, a consultancy. A week-long ship cruise could go up by $130 per cabin, the firm estimates. Add 5 cents onto a crate of bananas.
It’s still too early to say exactly who the biggest winners and losers will be among refineries because there are thousands of variables that shape their profit — more than 600 grades of crude, and many ways of setting up the plants.
Rest here:
https://gcaptain.com/a-major-shipping-change-is-coming-and-so-are-higher-fuel-prices/
Big chnage required starting in January:
Shipping Entering Uncharted Waters with New IMO Fuel Rules
December 12, 2019 by Reuters
ship emissions
Photo: Shutterstock / SmallPrints
reuters logo By Jonathan Saul LONDON, Dec 12 (Reuters) – Faced with imminent new global marine pollution rules, shipping companies and insurers are puzzling over the risks.
To reduce emissions of toxic sulphur that cause premature deaths, shipowners who have long relied on the dirtiest residues of oil extraction will have to either switch to low-sulphur fuel or install exhaust gas cleaning systems from Jan. 1.
Neither option has been fully tested for long, and some problems have already been reported, both with the more expensive new fuels and with devices known as scrubbers which extract the sulphur on board.
Interviews with key players in the industry show varying levels of alarm at potential risks, which they say range from unexpected fires or collisions due to engine failure to liability for inadvertently flouting the rules.
The container shipping industry alone is having to invest $10 billion to adhere to the new rules, analysts say, and is concerned about extra costs were things to go wrong.
If different types of the new, cleaner fuel are mixed, for example, they may produce a residue which could eventually clog up an engine and, in a worst-case scenario, damage or break it.
Several large ship owners said handling the new fuels correctly and making sure the scrubbers were properly deployed would minimise danger, but that if care was not taken, problems could arise.
“The big guys are going to be serviced by the right people … there is bigger risk for the smaller ships,” Hugo De Stoop, chief executive of leading Belgian tanker operator Euronav , told Reuters.
Euronav has bought the equivalent of almost six months’ supply of compliant fuel and is storing it in a megatanker off Malaysia. If a ship is too far away and has to buy fuel, it will try to buy a single type, or, if only a blend is available, ask to see the seller’s lab tests.
“We don’t always believe that people have done the test, been diligent about it,” he said.
More here:
https://gcaptain.com/shipping-entering-uncharted-waters-with-new-imo-fuel-rules/
With the gcaptain site most articles come via Bloomberg or Reuters, it's an industry site for maritime