If you are in the shipping and freight industry you may have heard several whisperings, notices, loose talk, official talk, speeches etc about IMO 2020 regulation.
But what is this #IMO2020, who will be impacted and how will it affect your life in the shipping and freight industry..??
Before that, here is a bit of background on this subject..
Currently, all modern commercial ships run on fossil fuels such as MGO (Marine gas oil), MDO (Marine diesel oil), IFO (Intermediate fuel oil) , MFO (Marine fuel oil), HFO (Heavy fuel oil) collectively known as bunker fuel..
These fuels have a high content of sulphur which is quite harmful to the environment.
The International Maritime Organization (IMO), the regulatory authority for international shipping, has been working to reduce the harmful impacts of shipping on the environment since the 1960s.