IMO mid-term measures tipped to add 80% premium to bunker costs by 2035

IMO mid-term measures tipped to add 80% premium to bunker costs by 2035

Maritime Strategies International (MSI) has given an early indication of the impact that the International Maritime Organization’s recently agreed Net Zero Framework will have on the bunker market.

By extending the annual fuel consumption estimates calculated for 2024 through to 2035, and applying MSI’s forecasts for bunker prices, it is possible to project the future fuel costs for conventionally-fuelled ships alongside the projected IMO penalties. By this approach, the IMO’s penalties would be equivalent to an 82% premium on top of the fleet bunker costs by 2035 – almost $100bn for the 30,000 ships tracked in MSI’s database.