The average consumer doesn’t even know what the International Maritime Organisation (IMO) is, let alone how its new Sulphur Oxide (SOx) regulations could affect her.
Yet, the economic impact of the IMO changes that come into force on 1 January 2020 could be massive.
Crunch time is imminent.
Upwards of 70,000 shipowners are being forced to make decisions on how they are going to meet the new International Maritime Organization (IMO) 2020 sulphur (sulfur) emissions requirements.
Which means it is crunch time for the marine exhaust gas cleaning systems (gas scrubbers) industry too.
The first quarter of 2019 is almost behind us, yet the shipping industry remains mired in uncertainty.
In nine months’ time new IMO regulations take effect, limiting the permitted sulphur (sulfur) content of marine fuels to 0.5% m/m.
There’s no getting away from it - IMO 2020 is a massive event.
Despite IMO efforts like the new sulphur oxide (SOx) cap, effective January 2020, greenhouse gas emissions from shipping could increase by 50%-250% by 2050.
In order to avoid such a fallout shipowners will need to be proactive and shoulder some individual responsibility.
Artificial intelligence, or AI, is going to transform the shipping industry. But how?
With the clock fast ticking down to the implementation of the International Maritime Organisation’s (IMO’s) 2020 sulphur (sulfur) emissions cap, ship operators are under extreme pressure to choose an affordable compliance solution.
PGT Builds Out Operating Management - Appointing Richard Oliver as CFO - to Support of Ramping Production of ENVI-Marine Systems
PGT today announced the appointment of Richard Oliver as Chief Financial Officer, a new position at the Company, effective May 24, 2019. Prior to the start of Mr. Oliver’s employment, the Company’s CEO Neil Carmichael has served as Principal Financial Officer and Principal Accounting Officer, which roles will be assumed by Mr. Oliver.
French shipping line CMA CGM's recent purchases prove there is an obvious winner of the exhaust gas scrubber vs LNG conversion debate in deciding how best to meet the IMO’s 2020 SOx cap.
Oil oversupply and demand worries, as well as recent political unrest have reintroduced both volatility and worries to the oil market (The Week).
In October 2018, oil prices were at a four-year high, but a US embargo on Iran and a resultant shortfall in oil was imminent. To mitigate this deficit, Saudi Arabia agreed to increase production. However, the embargo never happened, and the US change of tack and the resultant oversupply incensed Saudi Arabia and prices collapsed.
For many, memories of the horrific financial crash of 2008 are still raw. However, 2018 forecasts indicate that immediate drastic action is required to avoid such a calamity reoccurring in 2020.