|Issue Date: May 28, 2020
CaroTrans Export Advisory 20-003 IMO2020 Surcharge
|The International Maritime Organization has introduced regulations to limit the Sulphur content in fuel oil used on ships operating outside designated emission control areas to 0.50% m/m (mass by mass) by January 1, 2020. This will significantly reduce the amount of Sulphur oxides emanating from ships and should have major health and environmental benefits for the world, particularly for populations living close to ports and coasts.
Many of our partners have advised that they will begin using low Sulphur fuel as early as October and no later than December to ensure full compliance by 2020. This compliance comes at a significant cost, and our partners have introduced fuel surcharge increases.
To recover these costs, Carotrans is introducing the IMO2020 surcharge.
Please note the previously announced IMO2020 effective 12/15/2019 has been revised effective June 1st 2020. Below noted revision.
The surcharge also applies to Transshipment cargo. The surcharge is W/M = 1 CBM/1000 KGS (or 1 CBM/500 KGS for Caribbean and Central America). Min1 CBM.
Carotrans fully supports these environmental efforts. Please contact us with any questions