Glossary of trade terms

Plain-language definitions of 133 terms used in raw material trade: Incoterms, payment, shipping, customs, quality documents, plastics, metals, chemicals, agriculture and energy.

All topics · 133 Incoterms & trade contracts · 20 Payment & trade finance · 18 Shipping & logistics · 19 Customs, tax & compliance · 16 Quality, testing & documents · 11 Markets & pricing · 11 Plastics & polymers · 8 Metals & steel · 8 Chemicals & safety · 6 Agriculture, food & feed · 5 Energy, fuels & minerals · 4 Marine & ship supply · 3 Textiles, paper, wood & other materials · 4

A B C D E F G H I K L M N O P Q R S T U V Y

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Marine fuels: VLSFO, HSFO, MGO and the IMO 2020 sulphur cap

Under MARPOL Annex VI the sulphur cap for ship fuel fell from 3.5 % to 0.5 % on 1 January 2020 (IMO 2020); in Emission Control Areas – northern Europe, North America and, from 2025, the Mediterranean – the limit is 0.1 %. VLSFO (0.5 % S) is now the main fuel; HSFO (380 cSt, 3.5 % S) may only be burned by ships fitted with scrubbers; MGO/MDO (0.1 % S) is used in ECAs and auxiliary engines. Fuel quality is specified under ISO 8217, and every delivery requires a bunker delivery note (BDN) and a MARPOL sample.