Business Trends: Anticipated market and pricing impacts from new marine fuel regulations
In October 2016, the International Maritime Organization (IMO) announced that it will implement a new regulation that calls for the sulfur content in marine fuels to be reduced from 3.5% to 0.5%. The new regulation will go into effect in January 2020. This action by the IMO will have a profound impact on the maritime and refining industries worldwide, as well as on the environment. This month’s Business Trends section provides an overview on the anticipated impacts of the IMO’s decision on petroleum product markets.
- EnSys Energy,
Martin Tallett is founder and President of EnSys Energy, a consulting practice specializing in quantitative assessment of the global downstream petroleum industry, covering refining, logistics, trade, regulations, investment and related strategic issues. He co-leads, with David St. Amand, the EnSys-Navigistics Marine Fuels 2020 service. His early background was in a variety of refining and planning positions with Exxon and Amoco. Since 2007, he has been involved in marine fuels assessments for a range of government, refining and shipping industry clients. He holds a BSc degree in chemical engineering from the University of Nottingham in the UK.
St. Amand, D.
- Navigistics Consulting,
David St. Amand is President of Navigistics Consulting, a management consultancy dedicated to the maritime and energy fields. He has extensive expertise on marine fuel consumption, marine fuels (including LNG and hybrid fuels) and marine fuel markets. He has conducted global and regional studies of marine air emissions, marine fuel efficiency, marine bunker fuel markets and technical issues for a wide variety of public and private clients. Mr. St. Amand began his career with a major oil company and was technical lead on its tanker energy conservation efforts before moving into crude oil supply. He holds a BS degree in naval architecture and marine engineering from Webb Institute in Glen Cove, New York, and an MBA from Dartmouth’s Tuck School of Business in Hanover, New Hampshire.
- EnSys Energy,
Thomas Witmer is a consultant for EnSys Energy, where he supports technical and business strategy throughout the upstream and downstream. His most recent assignments include analysis of marine fuels issues and the US Strategic Petroleum Reserve. He holds BS degrees in industrial engineering and finance from Lehigh University, and is an active member of the Society of Petroleum Engineers.
- EnSys Energy,
Daniel Dunbar has been associated with EnSys since 1984. He has more than 30 years of experience in the petroleum and related industries, with particular expertise in petroleum technology and economics, oil and gas production, electric utilities and computer-based simulation. Prior to his association with EnSys, he held supervisory and executive positions with Getty, Chemico and Commonwealth Oil, Nuclear Power Services Co., Gordian and ICF. Mr. Dunbar received a BS degree in chemical engineering from Columbia University in New York, New York.
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