These are uncertain times for the world’s oil markets. They have been particularly precarious since April 22nd when the US announced that it would not extend waivers granted to major economies buying oil from Iran.
Ken McClelland has been more than PGT’s Technical Director. He is also the inventor of the company’s patented exhaust scrubbing methods. Better than anyone, he knows the story behind the technology that underpins PGT’s success.
As 1 January 2020 fast approaches, demand for exhaust gas cleaning systems (EGCS) grows unabated.
According to DNV GL, the number of vessels with exhaust gas scrubbers installed or on order has nearly doubled over the past 6 months to 3,229.
‘It’s going to be a disaster for the industry.’
So said George Chalos, maritime lawyer, speaking at the recent TradeWinds' IMO 2020 Disruption Forum on the topic of IMO 2020 enforcement.
Chalos was referring specifically to the heavy-handed enforcement he expected from the US Coast Guard after the IMO’s new sulphur (sulfur) regulations go live on 1 January 2020.
Though Singapore was not the first harbour to have banned the discharge of scrubbing waste water, its status as the second-biggest port in the world worried industry players. Singapore’s decrees are more influential than most.
In the same way, the MPA’s threat of prison time for IMO 2020 offenders could have far-reaching consequences.
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.