IMO 2020 sulphur cap to have 'crucial bearing' on the maritime industry: MOL CEO

Posted by Daily Shipping Times on 07-01-2019        Tweet

TOKYO : The enforcement of the IMO’s 2020 low sulphur regulations will have a “crucial bearing” on the success of the maritime transport industry according to MOL Chief Junichiro Ikeda.

In his New Year message Mitsui OSK Lines (MOL) President and CEO 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 International Maritime Organization’s (IMO) 0.5% global sulphur cap is now less than 12 months away and raises major cost and operational issues for shipowners and operators.

“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,” Ikeda stated.

“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 that MOL would draw on the full range of its experience to rise above the challenges placed by the low sulphur regulation.