Major cuts in carbon emissions next year
The first phase of the IMO’s emission targets come into force on 1 January 2020.
By this date, Faroese ships sailing in international waters are required to make significant cuts to their CO2 emissions.
The shipping industry uses large amounts of heavy oil, which contains sulphur.
Sulphur is harmful partly because it causes acid rain when it is burned.
A maximum of 0.5 percent sulphur
The Faroese Merchant Shipowners’ Association is a member of the International Chamber of Shipping (ICS), which represents 80 percent of the international merchant ship fleet.
The ICS backs the IMO demands, which state that from 2020 ships must use oil that have sulphur content of no more than 0.5 percent.
Over the next 30 years, these requirements will be tightened even further.
New oil types needed
“We have been told which oils we are allowed to use, so now it is up to the oil producers to manufacture it,” Anthony Gurnee, CEO of Bermuda-based Ardmore Shipping Corporation told CNBC.
This means that Faroese ships sailing in international waters will need to look for alternatives to the cheapest heavy oils.
Faroese land-based industries will still be permitted to use heavy oil with a sulphur content of more than 0.5 percent. Only national power supplier SEV and fish meal producer Havsbrún currently use this type of heavy oil.
Translated by prosa.fo