May 2019 is almost behind us. Soon we will have only seven months remaining before the International Maritime Organisation's (IMO's) new 0.5% sulphur (sulfur) cap takes effect.
To understand the maritime industry's readiness for this radical change, it is useful to imagine a cycling race...
There’s nothing small about the shipping industry.
It is responsible for moving 90% of the world’s goods every year, mostly in the 20 million containers that are currently travelling across the planet. As you read this, you can be guaranteed that something around you – your chair, your desk, your computer, or the components in your smartphone – has probably spent more time on the open seas than you have.
Pacific Green Technologies is delighted to announce the appointment of KPMG LLP as its auditor.
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.