World News
35,000 Ballast Water Management System Installations Needed in 40 Months
Industry experts are starting to warn of a 'tsunami' for shipping as a large share of the global fleet will need to rush to install ballast water management systems (BWMS).
Some 35,000 ships will need to install a BWMS over the next 40 months, Per Nykjaer Jensen, founder of engineering firm European Marine Technology, said in a YouTube video posted last week. The number is equivalent to 875 retrofits per month.
"That is 700% more than what we have seen in recent years," he said.
"It will be a tsunami for the industry, for everybody.
"It will definitely have an impact on the prices and the delivery times and the quality of the work done in the end."
The work is likely to keep shipyards busy over the next three years, as well as taking out a considerable share of global freight capacity while retrofits are being carried out.
The final deadline for BWMS installation was postponed to September 7, 2024 by the IMO in 2017.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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