05JUN2019 - NEWS - ICS - Annual Review 2019

The Annual Review sets out a broad cross section of just some of the many issues in which ICS is deeply engaged on behalf of the global shipping industry.

The immediate focus of ICS, and the shipowners we represent, is the successful implementation of the UN International Maritime Organization (IMO) global sulphur  cap, which will take complete effect on 1 January 2020. I am proud of the comprehensive advice that ICS has produced to help shipowners prepare, and the notable success that ICS has had in persuading IMO to adopt appropriate guidelines for its Member States.

Together, these initiatives should go at least some way towards reducing the risk that shipowners, through no fault of their own, could be unfairly penalised by Port State
Control authorities in the event that safe and compliant low sulphur fuels are initially unavailable in every port worldwide. There are still many questions that will not be fully settled before 2020, including what the cost of compliant fuels will be, but hopefully this enormous regulatory change will proceed as smoothly as possible. 

ICS is acutely aware of the urgent need for all economic activities, including international shipping, to eventually eliminate GHG emissions as soon as practicable, through a combination of short and longer term measures. The sector has already made impressive CO2 reductions since 2008, something for which the shipping industry is given insufficient credit. But now we need to redouble our efforts to deliver further dramatic improvements in fuel efficiency, as demanded by governments and society at large.

ICS has been leading the way in coming forward with constructive proposals for GHG reduction at IMO and will continue to do so throughout 2019. The transition to zero CO2 emitting fuels – which ICS has dubbed the ‘Fourth Propulsion Revolution’ – is the challenge of our age, and one that I know the industry will embrace. This will require truly massive investment in research and development, which ICS believes must be at the heart of the IMO GHG Strategy if the ambitious reduction targets that IMO Member States have set are to be met. 

Full report can be viewed here http://www.ics-shipping.org/docs/default-source/ics-annual-review-2019/a...

Published by Editor - www.Livebunkers.com at 05-Jun-2019 03:48:46 [UTC] , contact editor at editor@livebunkers.com