Does it cost a Fortune to comply ECA requirements?
We all know that one important aspect which keeps everyone in the Shipping industry worried is the Bunker Price. Ship Owners, Charterers and Ship Managers – always keep their fingers crossed as the Bunker Price fluctuates every day. The ECA regulations and the new ECA fuels – has left the ship Managers on the Knife’s edge to make a decision in choosing between the new ECA fuels or paying extra for the conventional fuels to comply with the new regulations. The Myth which is commonly believed is “THE COST OF 0.10% LSMGO is costlier than IFO 380 or LSHFO 380”.
The Myth Busted:
It is essential and worthy to note that Purchasing ECA compliant 10% sulphur (LSMGO) is only $470/MT in Rotterdam, $560 in Houston, and $485 in Singapore. This is at least $200/MT below the low sulphur 380 fuel in the middle of 2014. It is also $150/MT less than the price of high sulphur 380 fuel in June last year when bunker prices were at their peak.
The Verdict:
Therefore the cost of running a vessel in ECA is lower than what it was the first half of 2014.
