Chinese Bill Could Increase Shipping Costs in Hong Kong
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Officials are hoping the law takes effect on July 1. Low-sulfur fuel costs $200 to $300 more per ton than standard marine bunker, which is 3 to 3.5 percent sulfur and makes up 20 to 30 percent of total operational costs for an ocean carrier.
A manager for a European shipping line told the South China Morning Post that the shipping industry could not "bear the entire cost for clean air." The source added that the industry might implement surcharges like those in North America and Europe's emission control areas (designated areas that must comply with emission standards). There are currently three in the world-North America, the Baltic Sea and the North Sea.
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Brendan Menapace
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Brendan Menapace is the content director for Promo+Promo Marketing.
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