JUNE 1, 2018 — It is clearly a time of transformation in the maritime industry. One of the latest drivers of change is the implementation of the International Maritime Organization’s global 0.5% sulfur cap on marine fuel, which is set to take effect on January 1, 2020. The deadline is looming large for shipowners and operators.
“I can confirm the conversations that I have had with our clients from Vancouver to Houston to Singapore to Beijing over the last four weeks that [the sulfur cap] is by far the hottest topic of debate,” says Nick Brown, Director, Marine & Offshore, Lloyd’s Register. “I think that most of industry has been taking a cautious approach and have not been rushing to a decision, but I think over the last number of weeks and months, we’ve seen quite a large number of companies elevate this to the board level.”
Lloyd’s Register, one of the world’s largest classification societies, has shown itself to be a thought leader in the maritime industry’s transformation by providing its clients with smart advice on technical solutions tempered by astute commercial business sense regarding fuels, technology, and whether it is possible to future-proof their fleets.
With 2020 around the corner, Lloyd’s Register recently launched an online tool, Sulphur 2020-Options Evaluator, to help the industry identify the best choices for compliance. Ship operators can use the Options Evaluator to determine the potential cost and investment implications of various compliance strategies, such as transition from fuel oil to Marine Gas Oil (MGO), use of scrubbers and High Sulfur Fuel Oil (HSFO) or use of other compliant fuels such as Liquefied Natural Gas (LNG) or Methanol.
To gain further insight, Marine Log recently spoke with Brown for our Listen Up! podcast to discuss how Lloyd’s Register is supporting and preparing its customers with complying the IMO global 0.5% sulfur cap, from the technical, safety and market perspective.
You can listen to the podcast by clicking the arrow below.