On Sept. 26, the Auto Care Association’s Import Vehicle Community hosted a webinar on changes, disruptions and cost increases in ocean shipping as a result of IMO 2020. Effective Jan. 1, 2020, the International Maritime Organization (IMO) will implement a new mandatory requirement to reduce sulfur oxide emissions worldwide by 85%. This is one of the largest reductions in sulfur content of transportation fuel taken at one time and one of the most dramatic fuel regulation changes ever implemented.
Starting in the fourth quarter of 2020, importers will experience higher costs per container and a shortage of available ships and container space. Spot rates are expected to increase until the transition is complete. The webinar was presented by experts in the ocean shipping industry from HCS International, Gemini Shippers Association and Seabury Maritime.
More information about the IMO 2020 regulation can be found in the Gemini Shippers Group and Seabury Maritime white paper.
Access the webinar by logging in with a free autocare.org account. For existing autocare.org account holders, click “Sign In” at the top right-hand corner of the Auto Care Digital Hub page and sign in with your autocare.org login when prompted. If you forgot your login or don’t have a login, use the “forgot my password” or “create a new account” option on that same screen. Once logged in, you’ll automatically be returned to the IMO 2020 webinar page. Click “View Publication” to access the webinar.