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Marine Sector regulations and how they affect your shipping costs

Important Industry News!

We appreciate your continued business and want to ensure you are kept up to date with upcoming changes that will go into effect January 1, 2020.

The International Maritime Organization (IMO) requires that all ocean vessels reduce their sulfur emissions by over 80%, in order to improve air quality and reduce ocean pollution. To reach these goals, switching to low sulfur fuels and filtration systems on ships will be necessary.

How are you affected?

Due to the nature of this regulation, our industry as a whole is impacted and shipping costs will be increasing globally. The overseas shipping industry is responsible for roughly 50% of global fuel consumption, and the cost of low sulfur fuel is significantly higher than fuel that is not compliant with this new regulation. This increase in demand is likely to result in increased prices that will be reflected in ocean freight rates or surcharges.

These changes are expected to impact each shipping lane differently due to multiple factors. Although there is still uncertainty in the industry as to when exactly rates will increase, please rest assured that CFR will continue to keep you informed on the IMO developments to avoid last-minute surprises.

Joey has spent his entire teen and adult life in cars. Joey's father owned a Jeep store, and Joey had his own used car lot that he ran himself from age 22 until I was 30. At 30 years old, Joey got "out of" the car business and joined CFR Rinkens. Joey started when there were only 9 people at CFR, but the company grew to over 150 employees during his time there. When Joey started, CFR Rinkens was shipping about 40 vehicles per week from Los Angeles. Joey established locations in Houston, Miami, and New York and within the first year, CFR went to shipping 150 cars per week. Joey started as a customer service rep and later moved up to sales manager, operations manager, and marketing manager. Joey then moved to Europe for two years and spent the entire time traveling through Europe meeting with clients. In 2022, Joey and his partners purchased CFR Classic from CFR Rinkens and he returned to California to watch over the operation more closely.

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