High Cost Fleet Upgrades to Dominate Shipping Industry in the Years to Come

High Cost Fleet Upgrades to Dominate Shipping Industry in the Years to Come
30/03/2019

Ship owners should be prepared for a lengthy and high cost process of constant revamping of the existing fleet of ships, as more and more bans and regulations are being put into force with a view to limiting the industry’s environmental impact. So, while scrubbers and low-sulfur fuels are the main discussion points today, ahead of the IMO 2020 rule, in the future the global agenda will undoubtedly shift towards LNG and other means of decarbonising shipping.

In its latest weekly report, shipbroker Allied Shipbroking said that “nine months till the IMO 2020 regulation goes live and discussions have intensified, with most owners having already taken their strategic decision with regards to scrubber or no-scrubber. Yet, the heated debate over the future viability of scrubbers and fuel alternatives still ranges on. The number of vessels to be equipped with a scrubber system by the end of the year is estimated to be somewhere in the region of around 2,000 to 3,000 vessels, which is but a small share of the global trading fleet”.

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