Touching upon the challenging economic environment amid stringent and increasing environmental regulations, shipowners face a complex investment decision matrix of risks when considering how to comply with the global sulfur cap of 0.5% from 2020, the organization further noted. Hence, they must make decisions that remain viable into the future and make choices between a limited number of options; LNG, scrubbers, or low sulfur fuels.
All parties, especially the Port State Authorities must play their part. Effective and consistent enforcement, across all jurisdictions of the IMO emissions regulations, will be essential to ensure more environmentally friendly shipping and a level playing field for all shipping companies. Flag states and port authorities have a clear and key responsibility in ensuring compliance.
SEA\LNG added that in addressing the primary concerns of cost and compliance, LNG as a marine fuel provides a means of negating current and potential future local emissions challenges, and is a step in the right direction towards reducing greenhouse gas (GHG) emissions from maritime transport.