Shipping industry addresses the challenges during the opening day of Seatrade ShipTech Middle East 2019
As the International Maritime Organisation clamps down on harmful gas emissions from ships, banks - as the industry's financiers - are evolving alongside
Most shippers appear to be more concerned about the impact IMO 2020 sulphur regulations will have on the supply chain than the increased costs because of it.
Because all six GCC states are signatories to the IMO and because the energy sector is one of the most heavily export-oriented industries in the region, the regional chemical industry has one of the longest and most costly supply chains.
Open loop scrubbers are cheaper, but while they prevent sulphur emissions from ships escaping into the atmosphere, heavy metals and sulphur end up being discharged into seas with washing water.