IBIA looks at implications of Brexit for marine fuels market
Published by Rosalie Starling,
Editor - Hydrocarbon Engineering
Tanks and Terminals,
The International Bunker Industry Association (IBIA) has published a paper examining the potential implications for ship operators and ports following the UK’s possible decision to leave the EU.
‘Brexit and sulfur regulations – what now?’ looks at a range of scenarios including their impact on existing Emission Control Areas; the potential for the UK’s west coast ports to attract more shipping, and the impact on Gibraltar, which is the Mediterranean’s leading bunkering port.
Commenting on the potential impact of the UK’s changed status, IBIA Chief Executive Peter Hall said:
“Brexit has thrown up so many potential scenarios, which when combined with a decision from the IMO regarding the timing of a global sulfur cap, could lead to very different trading patterns and opportunities in particular for Bristol and Liverpool ports. However, shipping companies whose operations fall mainly in UK west coast waters will continue to face uncertainty over whether they should install scrubbers in time for 2020, or if the UK will allow them to use higher sulfur fuels in UK waters until 2025.”
The paper looks at a range of possible scenarios:
- Impact on English Channel ECA.
- Impact on UK west coast ports.
- Impact of UK deciding to replace EU sulfur regulations with less stringent requirements.
- Impact of delayed 0.5% global sulfur cap.
- Impact of Scottish decision to remain in EU.
- Impact on Gibraltar as a bunkering hub.
A full copy of the report can be downloaded here.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.tanksterminals.com/storage-tanks/11072016/ibia-looks-at-implications-of-brexit-for-marine-fuels-market-3671/
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