ICS published its Annual Review for 2018. The Review contains an overview of the many regulatory and policy issues confronting ship operators. The ICS Annual Review focuses on issues such as the IMO agreement on reducing CO2 emissions, as well as the many safety, legal and trade policy developments affecting international shipping.
In the Annual Review for 2018, ICS focuses on the IMO decision to reduce GHG emissions from shipping by at least 50%, compared to the levels of 2018. ICS welcomed this decision, but stated that:
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Zero emissions is something which ICS believes is achievable, but only provided that governments acknowledge the enormity of this challenge and take active steps to help facilitate the development of new propulsion technologies and the massive investment in bunkering infrastructure that will be required if zero CO2 fuels are eventually to be made available on a worldwide basis.
The report examines the 2020 sulphur cap, and says that there are going to be some issues, which will have to be addresses. One of the most immediate and pressing challenges facing ship operators is the impact of the global cap on the sulphur content of marine fuel, which will come into full effect on 1 January 2020.
ICS notes that it is difficult to predict what will happen exactly, but “there seems to be growing consensus within the bunker industry that sufficient quantities of compliant fuels will probably be available, although they are likely to be expensive.”
Moreover, the review outlines the Ballast Water Management (BWM) Convention which came into force worldwide. Many shipowners will have to make important decisions about whether to retrofit the expensive new equipment or, because of the potentially prohibitive cost, send older ships
for early recycling instead.
The huge importance of this issue is why ICS, for the past decade, has had to dedicate such a significant proportion of its resources towards helping to make the Convention fit for purpose in discussion with governments.
Namely, ICS’s Annual Review 2018, focuses on the following key issues, among others:
- Reducing CO2: A ‘Paris Agreement for Shipping’;
- Implementing the IMO Ballast Water Convention;
- Shipbuilding Issues;
- The Migrant Rescue Crisis;
- Piracy and Security;
- Navigational Safety.
You can see the full ICS Annual Review 2018 in the PDF herebelow
