SINGAPORE: The port of Fujairah in the UAE has begun offering cleaner marine fuel oils that comply with stricter global emissions rules which come into effect at the start of 2020, a port document showed.
Marine fuels, also known as bunkers, with a maximum 0.5 percent sulfur content are “available in Fujairah as early as February 2019 onwards,” said a notice to mariners posted on the Port of Fujairah’s website.
Fujairah is among the world’s largest bunkering hubs.
The International Maritime Organization (IMO) will prohibit ships from using fuels with sulfur content above 0.5 percent from Jan. 1, 2020, compared with 3.5 percent today.
To comply with IMO 2020 rules, shippers can switch to burning cleaner but more expensive oil, invest in exhaust cleaning systems known as scrubbers that may allow them to still use cheaper high-sulfur fuels, or redesign vessels to run on alternatives like liquefied natural gas (LNG).
In January, Fujairah port authorities announced they would ban open-loop scrubbers, mirroring a similar moves in Singapore — the world top bunkering hub — and China.
UAE’s Fujairah oil hub starts to offer cleaner marine fuels ahead of new rules
UAE’s Fujairah oil hub starts to offer cleaner marine fuels ahead of new rules
- Marine fuels with a maximum 0.5 percent sulfur content are “available in Fujairah as early as February 2019 onwards”
- The IMO) will prohibit ships from using fuels with sulfur content above 0.5 percent from Jan. 1, 2020
Saudi finance ministry, IMF to launch AlUla conference for emerging market economies
RIYADH: The Saudi Ministry of Finance and the International Monetary Fund (IMF) will launch the second edition of the annual AlUla Conference for Emerging Market Economies.
Launched in 2025, the conference in this year’s edition brings together economic decision-makers, finance ministers, central bank governors, leaders of international financial institutions, and a select group of experts and specialists from around the world.
It will be held on Feb. 8 and 9.
This year's conference will highlight the rapid transformations occurring in the global economy and the challenges and opportunities they present for emerging market economies, particularly in the areas of international trade, monetary and financial systems, and macroeconomic policies.
