The MS Berge Stahl is the largest bulk carrier ship in the world. It is registered in Stavanger, Norway. An iron ore carrier, the Berge Stahl has a capacity of 364,767 metric tons of deadweight (DWT) and was built in 1986 by Hyundai Heavy Industries. The Berge Stahl is 1,122 feet (343 m), has a beam, or width, of 208.3 feet (65 m), and a draft, or depth in the water, of 23 m. Because of its massive size, the Berge Stahl can only tie up, fully loaded, at two ports in the world, hauling iron ore from the Terminal Marítimo de Ponta da Madeira in Brazil to the Europoort near Rotterdam in the Netherlands.

The cost of fuel for shipowners could rise as much as 50% after an International Maritime Organization committee approved rules to reduce harmful emissions from ships by banning vessels from using their traditional heavy fuel in many parts of the world.

The International Maritime Organization is a United Nations body.

The Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) said last week that the main changes would see a progressive reduction in sulphur oxide (SOx) emissions from ships, with the global sulphur cap reduced initially to 3.50% (from the current 4.50%, effective from 1 January 2012; then progressively to 0.50 %, effective from 1 January 2020, subject to a feasibility review to be completed no later than 2018.

The limits applicable in Sulphur Emission Control Areas (SECAs) would be reduced to 1.00%, beginning on 1 March 2010 (from the current 1.50 %); being further reduced to 0.10 % , effective from 1 January 2015.

Progressive reductions in nitrogen oxide (NOx) emissions from marine engines were also agreed, with the most stringent controls on so-called "Tier III" engines, i.e. those installed on ships constructed on or after 1 January 2016, operating in emission control areas.

The oil currently used by ships is known as bunker, which is the residue left after higher-quality products are refined out of crude oil and is far cheaper than other fuels.

The rules are expected to be adopted formally by the IMO committee at its next meeting in October and come into force 16 months after that. The rules will be obligatory for ships flying the flags of IMO member countries – the vast majority of international shipping.

The only existing sulphur emission control areas are the North Sea, including the English Channel, and the Baltic.

The Baltic Dry Index, the benchmark for freight rates for bulk carriers, hit an all-time high of 11,039 on November 13, 2007, up from 2,438 on January 3rd in 2006.

The rise last autumn related to a period when speculative buyers booked orders with international shipyards. According to an analyst’s estimate, about 45% of the orders booked in the shipyards currently are for dry bulk carriers.

The Baltic index touched a low of 5615 on January 29 this year, and was at 7754 on Tuesday, April 8.