 The likely implications of the new IMO standards on the shipping industryAntoine Halff, Lara Younes and Tim Boersma Energy Policy, 2019, vol. 126, issue C, 277-286 Abstract: Discussions about “peak oil demand” tend to focus on passenger vehicles, often from a US and European perspective. These discussions often ignore other markets, such as marine transport, which collectively would also need to show a reduction in demand if oil consumption were to reach an inflection point. We explore the outlook for marine bunkers, a niche market that accounts, depending on estimates, for up to 7% of the demand barrel. We focus on the possible impact of new environmental restrictions that aim to drastically reduce sulfur oxide (SOx) emissions from ships as of January 2020, placing them against the background of past innovations that have been reshaping ships’ fuel consumption patterns and assessing their likely impact on future innovation in the sector. We conclude that the rules might paradoxically end up slowing down what might have otherwise been a more rapid transition of the shipping market away from traditional bunker fuels. The rules will, however, adversely affect simple refineries and producers of heavy, sour crude oil grades, whose prices are sometimes indexed to that of high sulfur fuel oil (HSFO). Keywords: Marine transport; Emissions; IMO; Air quality; Fuel switching (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:126:y:2019:i:c:p:277-286 DOI: 10.1016/j.enpol.2018.11.033 Access Statistics for this article Energy Policy is currently edited by N. France More articles in Energy Policy from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.