Analysis of the impact of modern environmental requirements on the global shipping fuel market

Abstract

The oil market is influenced by a number of factors. According to the authors, perhaps the most significant today is the impact of the requirements of the International Maritime Organization (IMO) on the sulfur content of marine fuel and a significant reduction in carbon dioxide emissions from water transport. Environmental requirements play a significant role in the regulation of the ship fuel market, in the search for new types of energy and in the development of shipbuilding. The impact of environmental requirements, combined with economic indicators, leads to the emergence of new types of energy and the development of shipbuilding. Environmental restrictions of MARPOL in shipping have led to the emergence, development and use of new types of energy: fuels with a low sulfur content; liquefied natural gas; electrical energy, biofuels. The authors emphasize that the adopted National Transport Strategy of Ukraine for the period up to 2030 does not provide for new ways and effective methods of restoration and development of water transport in Ukraine to solve systemic problems. Although, it emphasizes that the priorities are the use of fuel-efficient and environmentally friendly vehicles, the use of alternative fuels, environmental protection and conservation of protected areas while developing transport infrastructure. Ukraine does not have the necessary set of options for rescuing from the financial and economic crisis, which has further exacerbated the coronavirus. According to the authors, it is the latter that does not allow making optimistic forecasts in relation to the development of the fleet and the solution of those tasks that are provided for by the strategy for at least a few more years.