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

Israel’s Oil Refineries (ORL) recently delivered its first cargo of 0.5% sulfur content marine fuel, complying with incoming new IMO rules, a trading source said.

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

Ships will be required to use fuels with a sulfur 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 sulfur fuels to meet the 0.5% requirement.

Reporting by Ron Bousso; Editing by Susan Fenton

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