the international maritime organization

Greece's ferry companies are preparing to raise prices after a new requirement to use fuel with 7 times lower sulfur content for their ships (from 3.5% to 0.5%) entered into force on January 1st.

This is a regulation of the International Maritime Organization and is aimed at reducing air pollution.

During last week's Greener Shipping Summit 2019, the speakers and delegates often appeared to be still at odds over how to meet the new environmental regulations with just a month-and-a-half to go until the International Maritime Organization sulfur cap comes into force.

Greece's biggest oil refiner, Hellenic Petroleum, reported a 31 percent drop in second-quarter core profit on Thursday, hurt by refining margins which recorded a five-year low.

The price of ship fuel is expected to rise by 20 to 25 percent from January 1, 2020, as a result of a new regulation by the International Maritime Organization (IMO) mandating the use of fuel with less sulfur content - 0.5 percent from the current 3.5 percent.

The state of infrastructure at Greek ports is a major concern for cruise companies, it emerged from the 5th Posidonia Sea Tourism Forum that concluded on Wednesday in Athens.

The number of new liquefied natural gas-powered vessels will almost double around the globe this year, as the deadline for slashing the sulfur content of bunker fuel is fast approaching, but their further increase to significant figures greatly depends on the improvement of infrastructure, a senior market monitoring official tells Kathimerini English Edition.

Maritime energy has taken center stage at this year's Posidonia shipping exhibition, as the deadline for all companies to conform to the International Maritime Organization (IMO) requirements for cleaner fuel is leading to significant changes in the industry as well as new business opportunities.

The 2018 Posidonia maritime exhibition is to open on Monday evening, breaking new records with 1,920 exhibitors from 82 countries and with a strong Chinese presence.