Deep Dive: Regulatory Compliance Challenges & Solutions Check out SHIPPINGInsight 2021: Bridging the Decade highlights!…
Approaching the Finish Line: Picking up the pace of change
With each day, we draw closer to the IMO2020 Sulphur reduction coming into force January 1st. Much has been written about preparation, strategies, enforcement and more. It is surprising, however, that many companies are coming down to the wire, considering the agreement to reduce Sulphur to .5% on a global basis was made in 2008. Recent conversations have also questioned enforcement. It will be interesting to see how countries move forward, especially in light of Indonesia’s statement they will not require thOKeir national vessels to be compliant until their reserve of 3.5% fuel is depleted. Who will be monitoring their actions to ensure this happens?
The discussion about enforcement is one of the cornerstones of this year’s SHIPPINGInsight conference, with Mr. Jeffrey Lantz, Director of Commercial Regulations and Standards (CG-5PS) U.S. Coast Guard anchoring the roundtable “Solving the Enforcement Conundrum”. He will be joined by shipowners, flag and solution providers to engage in the realities for global implementation; enforcement must be uniform and consistent. The industry requires a level playing field in which to operate where regulations are applied equally. While there is most likely going to be an initial period of accommodation due to fuel availability or compliance snafus, we need to be seen as vigilant in our enforcement.
Why is the successful implementation of IMO2020 so critically important? Aside from reducing impacts on the environment, the shipping industry is in the crosshairs of the world’s environmental and governmental communities. We are being watched to see how successful our attempt at self-regulation is deployed as a benchmark for the next global challenge: GHG reduction. If IMO, and the shipping industry at large, cannot deliver an effective, GLOBAL, enactment of this impending regulation, our hopes of being able to chart our own course for GHG reduction will be dramatically reduced.
The clock is ticking. Let’s get busy!!!