Gard’s Loss Prevention Executive Asia, Singapore, Siddharth Mahajan and Senior Claims Adviser, London, Louis Shepherd note that the 2020 transition has been smoother than many predicted but not without challenges.
2020 sulphur cap
BIMCO reports that by the start of July, the share of the containership fleet with scrubbers installed exceeded that of the crude oil tanker fleet. At that time, the container shipping sector became the most scrubber-fitted amongst the main cargo carrying ship types.
Aderco notes that there are still five key threats associated with new VLSFO; cat fines, sludge, compatibility issues, asphaltene and fuel stability remain key issues for the health and maintenance of diesel engines since the IMO sulphur cap became effective.
Standard Club’s Peter Smith provides his perspectives on the use of scrubbers in the long term, noting that issues with scrubber installation, operation and maintenance could create expensive disputes for shipowners.
Shipping is experiencing increasing pressure to decarbonize its operations and to reduce emissions to air. In April 2018, the IMO adopted an ambitious GHG reduction strategy, aiming to reduce with at least 50% total GHG emissions from shipping by 2050. As it is expected, such an unprecedented change, poses challenges for a range of stakeholders, from ship owners, to ship builders, designers, and fuel suppliers financiers and policy makers.
Seven months after the implementation of the IMO 2020, the raft of technical issues and leap in fuel prices that were expected to result have failed to materialise, ING Bank said.
What was on the minds of all shipowners coming into 2020 has now been clearly over shadowed by COVID-19 and its impact. However, as IUMI says, challenges remain on the full implementations of IMO’s 2020 sulphur cap.
The new fuels introduced to the bunker market have been found to be diverse. One particular characteristic can however prove troublesome if the vessel is carrying a heat-sensitive cargo, argues Alvin Forster, Loss Prevention Executive, The North of England P&I Club.
Following a greener path, the shipping industry is constantly searching for alternative fuels that will be in line with the environmental regulations, with LNG currently seeing a high demand.
The shipping industry must consider multiple factors in moving towards decarbonisation, including the future demand for energy and the varied impact on short and deepsea fleet, writes Georgios Plevrakis, Director of Global Sustainability at ABS.
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