ABS Talks 2020 Sulfur Cap Impact Scenarios at Annual Meetings

ABS held its annual National and Regional Committee meetings in London, Copenhagen, and Hamburg in mid-March.

ABS says that its annual National and Regional Committee meetings in London, Copenhagen, and Hamburg, which were held in mid-March, featured discussion on impact scenarios that could result from a global 0.50 percent cap on marine fuels from 2020.

ABS notes that its annual committee meetings - attended by owners, operators, charterers, representatives from flag administrations, owner associations, as well as the shipbuilding and insurance sectors - are intended to address regulatory challenges and rule development.

"Our committee meetings provide a platform for transparent, robust and engaging conversation with industry," said Christopher J. Wiernicki, ABS' Chairman, President, and CEO.

The committee meetings this year are said to have given particular focus to air emission requirements, including the 0.50 percent sulfur cap set for 2020 and the European Union's (EU) Monitoring, Reporting and Verification (MRV) regulation.

"As owners begin to prepare for compliance, they want to be sure they have selected solutions that best meet their unique fleet profiles," said ABS.

"ABS is offering guidance that gives more confidence that the most suitable choices are being made. As the first accredited class society to perform EU MRV assessments, ABS is helping companies make adjustments to align their plans with applicable requirements."

The annual meetings also featured discussion on industry outlooks stemming from other regulatory changes, as well as external presentations on shipping finance, the shipbuilding landscape, and digital transition and its impact on shipping.

Last month, ABS announced that it had become the first class society to earn EU MRV accreditation after Greece's national accreditation body, the Hellenic Accreditation System (ESYD) awarded the company approval to perform assessments for EU MRV compliance.