As of 1st January 2015, every ship operating within the Emission Control Area (ECA) must use higher quality fuels with a sulphur content of no more than 0.1% (current limit: 1.0%). Adherence to this limit under MARPOL Annex VI is required of ship-owners by the International Maritime Organization (IMO), the United Nations body responsible for maritime affairs..
As a result, ALL carriers will implement a Trade specific “ECA Regulation Surcharge” to be in effect from 1st January 2015. The charge will be put into place to manage the cost of adhering to the environmental protection regulations. Carriers evaluated expected operating cost increase due to the need to burn higher grade fuel oil in these certain locations and constructed the surcharge in line with these costs.
The cost of fuel that meets the regulation requirements is not yet known, although it is anticipated to be significantly more expensive than current standard bunker prices. The availability of fuel that meets the required low sulphur content at all locations is also an unknown.
As a result of these variables, carriers ECA Regulation Surcharge will mostly contain a floating element to ensure a shared risk approach with their relations.
These announced charges will vary per carrier.