Decisions determine the destination, but they have an impact on many others in the process.
We have seen over the last few days the impact that a decision can have and the resulting chaos. The outcome of the ‘Brexit’ referendum impacted markets around the world and has changed the course of at least one nation, and potentially a number of others will consider course alterations. Much like a ship suddenly changing course in a congested seaway, others are impacted and as a result need to take action too. If you have ever seen a speeded up version of a radar picture of the Dover strait, you will see the impacts of ships taking such actions. When you are in command the implications are even more challenging!!
I use this example and analogy because I believe the bunker industry is facing an equally seismic decision in the coming months that will change the course of shipping and have significant impacts on the future. I am talking about the sulphur cap decision in October at MEPC 70. Many are now saying that it will be 2020. We have two comprehensive articles in this month’s newsletter that highlight the impacts of the sulphur cap decision. Also we want to know your views about the concerns we have raised about a “flick of a switch” change from the 3.50% to the 0.50% global sulphur limit. Please respond to the survey, we really do need the industries views to know if we should voice our concerns at MEPC.
Another feature in this month’s newsletter also concerns impacts. After OW: “The trust is gone” shows what the industry is wrestling with after the OW crash and what needs to be done to learn from this going forward. In this vein it is good to report that BIMCO are looking to review their bunker contract, and we have Henrik Zederkof representing IBIA in the discussions with support from Trevor Harrison.
Turning to IBIA matters, we present the work group development and tell you how you can get involved, and we introduce Steve Simms, our latest board member. For those who don’t know Steve, we can always benefit from legal experience and an analytical approach. There are also snapshots of what IBIA has been getting up to recently, and reminders of what to look forward to in the coming months.
Finally I return to my opening paragraph: IBIA is concerned about the impacts decisions will have and we want to inform and shape the future. We can only do this with your feedback and input, I would encourage you to read and respond to the survey you can find at the end of the global cap feature.
Chief Executive, International Bunker Industry Association
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