Irish Ferries Update : Sulphur 2020
Irish Ferries have released the following statement regarding Sulphur 2020;
From 1st January 2020 the sulphur content of fuel consumed by our vessels will change as a result of a directive from the International Maritime Organisation (IMO). Additional information on the directive is available here. This new worldwide regulation will apply to all of our fleet limiting the sulphur content to 0.5% which is a higher costing fuel than existing Heavy Fuel Oil (HFO). Irish Ferries is obliged to comply with the legislation.
The specifics of the increase amount remain unclear as yet owing to factors such as the volatility of fuel price markets coupled with the predicted rise in demand for low sulphur fuel forecast as a result of this new legislation. The methodology for calculating the fuel surcharge will change to reflect the new regulations. I appreciate that understanding the precise costs increase is critically important information for both you and your customer therefore I will commit to communicating the specifics once I can be more definitive.
We will continue to present the fuel cost in the most transparent and comprehensible manner by publishing on our website on a monthly basis. In the meantime please do not hesitate to get in touch if you would like to discuss further.