IMO has decided to put a global cap on Sulphur emissions from all ships. The Sulphur in the bunker will be reduced from 3.5% to 0.5% by the year of 2020.
This is an extension to the present SECA regulation that came in force in 2015, affecting only special areas. Low Sulphur bunker is approximately 50% more expensive than regular bunker. Many ships operating in SECA areas have continued to use regular bunker and instead installed scrubbers to reduce the emissions.
Read the IMO (International Maritime Organization) press release!