IMO 2020 implementation has been "relatively smooth", according to the UN-backed body behind it.

In a statement Tuesday, the IMO said prices for the new, low-sulphur fuels have stabilised and 10 cases of compliant fuel being unavailable had been reported in the first 20 days of the new year.

"I believe it is testimony to the diligence and dedication of the IMO, its member states, the shipping industry, the fuel-supply industry and other relevant industries that such a major rule change is being implemented successfully without significant disruption to maritime transport and those that depend on it," IMO secretary general Kitack Lim said.