Ship owners have been through stormy water of late – and things could get a lot choppier out there thanks to a global push to clean up fuel.
While Europe and the US have been controlling emissions in their coastal waters for the past decade, the International Maritime Organization is about to extend regulation to cover the entire world. The new rules will mean around 2-2.5 million bpd of high-sulfur oil converting to low sulfur. That’s a big shift, it equates to almost 180 million tpy – 70% of the fuel used by the shipping industry – switching from 3.5% sulfur to below 0.5%. Compliance is likely to cost the shipping industry US$60 Billion, according to consultants at Wood Mackenzie Ltd.
Ship owners have three options to respond:
June 11th: Washington, DC (AGE) Advance Green Energy, Inc. www.advancegreenenergy.us CEO PM Barbee met with the Hon. Alimamy Coulson Turay, Deputy Ambassador to the United States of America for the Republic of Sierra Leone to discuss Advance Green Energy Products and pollution problems plaguing Sierra Leone.
Sierra Leone ranks 34th in diesel fuel consumption. FUTT 13™ reduces black smoke and pollution in diesel engines.
Mr. Barbee discussed the possibility of a government mandate to curb the pollution associated with burning diesel fuel. Sierra Leone utilizes two refineries before it’s distributed for consumption. FUTT13™ would be blended with the diesel fuel at these two refineries. The government would institute a surtax at the pump to offset the cost of FUTT13™.
The meeting went well and both parties agreed to progress to a Memorandum of Understanding (MOU).
AGE is a wholly-owned American company, conducting...