Preparing for IMO 2020
The international Maritime Organisation IMO has decided that the current global emission limit of 3.5 % sulphur dioxide in maritime bunkers will be reduced to 0.5 % from 1 January 2020.
It is estimated that this will result in the proportion of global air pollution caused by shipping to fall from 5 % to 1.4 %. This transition will also affect refineries and consequently the bitumen industry.
The European bitumen market is likely to be affected in some way in terms of both regional and overall supply-demand balances, the types of bitumen that will be available, the availability of certain grades, the transport costs for both crude oil and bitumen and last, but not least how bitumen is priced.
During the autumn of 2018 we will meet with our customers to go through the Nynas view of these effects. You will also be able to read more about this issue on the Bitumen Matters microsite, as well as on Nynas Bitumen’s Twitter and LinkedIn. In the next issue of Bitumen Matters we will have a longer article about the effects of IMO 2020 on the European bitumen market.