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FREE DOWNLOAD: Navigating through shifting regulatory and geopolitical landscapes in maritime

In this Sea Asia report – the final of a three-part series – we look at how global developments are impacting the maritime industry and what the industry needs to do to be able to move comfortably through these changes.

This report also cites key discussion points from the recent Sea Asia 2019 held in Singapore in April.

Changing regulations – challenges and opportunities

Globally-enforced environmental regulations have been steadily introduced over the last few years, with the International Maritime Organization (IMO) 2020 Sulphur Cap as the most pressing deadline coming up in eight months’ time.

According to Guy Platten, Secretary-General of the International Chamber of Shipping (ICS), these environmental regulations, whilst clearly necessary, will “obviously have major economic implications” to industry players.

According to reports, compliance for the sulphur cap alone could cost upwards of $50bn. Looking ahead the industry anticipates greater regulatory changes, with conversations amongst industry players shifting beyond IMO2020 and the 50% Greenhouse Gas emissions reduction target of at least 50% by 2050 and what that means for the shipping industry.

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