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MRV vs. IMO Regulations

MRV vs. IMO Regulations

Ship owners are currently dealing with recent regulations applied to maritime industry, such as MRV Regulation which entered into force on 1st January 2018.

After a period of development and assessment of each vessel’s Monitoring Plan (until 31st December 2017), companies are, at this stage, gathering data from fuel types consumed on board, their respective impact on the environment, and vessel´s activity data (transport work, distance travelled, hours underway, cargo carried, energy consumption, among others).

This stage which goes until the end of the present year, corresponds to the reporting period. Completed this period, companies have until 30th April 2019 to submit an emissions report to be verified by an accredited entity.

Once the emissions report is verified, the company receives a Document of Compliance (DOC) which has validity for 18 months and has to be carried on board. This document proves the conformity of the vessel regarding the imposed MRV Regulation and prevents the company from any possible penalty.

Penalties can go from small dissuasive and proportionate sanctions, to the possibility of prohibition from entering EU ports in case of failing to comply for two or more consecutive reporting periods.

This regulation has implications only in EU ports, and considers only ships with 5000 GT or higher, ships for commercial purposes (carrying passengers or cargo), regardless of the flag or country of the shipowner.

People are still adapting to this recent regulations, although there is still much more to come.