June 17, 2019 / 2:10 PM / a month ago

Israel's ORL delivers first cargo of IMO-spec marine fuel -sources

LONDON, June 17 (Reuters) - Israel’s Oil Refineries (ORL) recently delivered its first cargo of 0.5% sulphur content marine fuel, complying with incoming new IMO rules, a trading source said on Monday.

The Haifa-based 197,000 barrel per day refinery loaded its first 30,000 tonne cargo of the ultra-low sulphur, 380 centistoke blend in late May, the source said.

Ships will be required to use fuels with a sulphur content of no more than 0.5% from the start of 2020, down from 3.5% currently, under International Maritime Organization (IMO) rules aimed at cutting air pollution.

Several refiners have in recent months developed new marine fuels to comply with the new regulation as shippers are expected to start shifting to the new specification ahead of 2020.

Oil majors Exxon Mobil, Chevron, BP and Royal Dutch Shell have also said they are developing very low sulphur fuels to meet the 0.5% requirement.

Reporting by Ron Bousso; Editing by Susan Fenton

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