7 months PH GenCos worried over rate hike due to shipping’s fuel shift MB |Biz
By Myrna M. Velasco BALI, Indonesia – Power generation companies are worried that the shift of shipping vessels to low sulfur-content marine fuel could hike freight costs that will in turn have higher pass-on cost effect to electricity consumers. That is in line with the International Maritime Organization’s (IMO) regulation prescribing that come January 2020, the sulfur content of bunker fuel used in shipping vessels shall already be capped at 5,000 parts per million (or 0.5%) from currently at 35,000 ppm (3.5-percent). In an interview here, Aboitiz Power Corporation Chief Operating Officer Emmanuel V. Rubio noted that industry players are ... more