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What is the significance of the New Sea Freight Fuel Prices?

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To reduce air pollution from ships globally, a new regulation will come into force from January 2020. Ships can use fuel with the new global sulphur cap of 0.5% while the current cap is 3.5%. Adopted by the IMO (International Maritime Organization), this will reduce the sulphur pollution from shipping by almost 80% and will have a significant positive impact on human health and environment. The cost of compliance with this new regulation would be significant and as a result, the overall cost of shipping will increase.


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