Tag: IMO 2020

Pacific Basin, Hong-Kong based dry bulk shipping company, published its 2019 interim results, and revealed its plans to fit scrubbers on a majority of its Supramaxes by the end of 2019. During H1 2019, the company managed to expand its fleet with four secondhand vessels, and also conducted a sale of an older, small Handysize. 

During the inaugural Hellenic American Maritime Forum in Athens, Dr. Khorshed Alam, COO, Viswa Group, talked about the sulphur 2020 options and alternatives, explaining how these solutions can be implemented, as well as what challenges are possible to occur.

The shipping industry has long been under discussions on finding low carbon solutions for a more sustainable future while IMO’s decision on reducing GHG emissions from ships by 50%, compared to 2008 levels, by 2050. However, the EU seems to have different future plans, as the newly elected European Commission President, Ursula von der Leyen, proposed a carbon-neutral Europe by 2050.

The Indonesian Ministry of Transportation announced that Indonesia will not implement the 2020 suplhur cap regulation on its domestic shipping fleet because of the expense of the cleaner fuel. Thus, Indonesian-flagged vessels will be able to sail burning marine fuels with a maximum 3.5% sulphur content in its territorial waters past 2020 without having to use scrubbers.

The John Keells Holdings subsidiary saw a 6% year-on-year increase in bunker volumes and in base fuel prices, which both boosted the company's revenue and profitability. Based on the company's Annual report, it reported a 32% year-on-year rise in revenue and EBITDA for the period from 1 April 2018 to 31 March 2019.

The Trident Alliance, a network consisting of shipping companies and other interested parties that have the common goal on the transparent enforcement of environmental regulations, welcomes the entry of CSL Group and Oldendorff Carriers as its newest members.   

The 2019 Hellenic American Maritime Forum gathered experts from the maritime industry, who provided their knowledge and expertise on critical matters that the industry is currently focusing on. One of the key discussions was about the approaching 2020 sulphur cap and the challenges around it. 

The International Maritime Organization (IMO) Council is conducting its 122nd session this week. Stakeholders from the shipping industry gathered to discuss hot issues that are on the spot and priority as strategy and planning, reform, management, technical, environmental and safety and smart issues.

According to Danish Shipping, several Danish shipping companies are installing scrubbers on their vessels, which clean the exhaust smoke from the vessels' engines and remove sulphur and other particles, resulting to the ships being in line with the new international requirements. 

The Shanghai Futures Exchange revealed that China plans to launch a bonded low-sulphur bunker fuel oil contract that will enable foreign investors to participate in trading by the end of 2019.