Against a backdrop of a gloomy outlook for container trades Bimco analyst Peter Sand warns a failure by lines to pass increased fuel costs from the IMO 2020 sulphur cap could result in bankruptcies.

Bimco is fast-tracking its first 2020 bunker clause that could be published as early as the end of October.

Bimco and the European Community Shipowners Association (ECSA), the two leading associations representing shipowners globally and in Europe respectively, are looking at ways they can tighten their cooperation.

The bunker industry is the latest to make use of the growing application of blockchain technology in the maritime sphere with Blockchain Labs for Open Collaboration (BLOC) announcing through its subsidiary Maritime Blockchain Labs (MBL), the establishment of a consortium to address traceability and transparency in the marine fuel supply chain.

The main shipping industry trade organisations say International Maritime Organization (IMO) member states “must make” progress on key issues related to the 2020 sulphur cap.

The Posidonia 2018 conference and seminar programme have a truly international flavour being organised by companies and organisations from around the world from Brazil to France, Norway, Panama to Poland, from Mexico to Korea and Japan and from South Africa to the UK and of course Greece.

The shipping industry has lauded an initial strategy adopted by the International Maritime Organization (IMO) to reduce GHG emissions by at least 50% of 2008 levels by 2050, but others were less impressed.

BIMCO has come out with a statement against US-led protectionism and warned about the threat of a damaging trade war as imports tariffs on steel and aluminium announced earlier this month are set to enter into force.

A coalition of shipping industry and environmental organisations have called for ban of the carriage of fuel of higher than 0.5% sulphur content once the cap comes into force at the start of 2020.

Bimco has launched its new electronic editing solution for contracts - SmartCon – at an event in Singapore.

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