The enforcement of the International Maritime Organisation (IMO) 2020 low sulphur regulations will have a crucial bearing on the success of the maritime transport industry, the President/CEO of Mitsui OSK Lines (MOL), Junichiro Ikeda, has said.
Speaking in his New Year message, Ikeda said, “One issue that will have a notable impact on the global shipping industry is the enforcement of new sulphur oxide (SOx) emissions regulations in January 2020.”
The coming into force of the IMO 0.5% global sulphur cap is now less than 12 months away and raises major cost and operational issues for shipowners and operators.
According to the MOL chief, “It is no exaggeration to say that the enforcement of these regulations will mark a major turning point that will have a crucial bearing on the success of the MOL Group as well as the marine transport industry as a whole.
“We have less than one year left to prepare. Operational concerns notwithstanding, we need to re-examine whether our preparations are adequate on the sales and marketing fronts, and identify any hidden risks.”
He said MOL would draw on the full range of its experience to rise above the challenges placed by the low sulphur regulation.
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