Publications: Notes at the Margin

Designing Circuit Breakers for IMO 2020 (September 24, 2018)


In a Bloomberg piece headlined "Shipping Lobby Proposes Phased Start to Historic Fuel Change," the authors noted that three shipping-related trade groups and four countries had called on the International Maritime Organization to add an "experience building phase" to moderate the implementation of the IMO 2020 rule. We proposed just such an adjustment earlier this year, stating that "the IMO requires adult supervision." Today, some very good reasons exist for adopting an IMO 2020 circuit breaker. Chief among them is the uncertainty regarding the regulation’s impact on the diesel fuel market and the resulting effect on crude prices.


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