The Paris and Tokyo Memoranda of Understanding on port state control organisations are joining forces to warn vessels that risk violating the 2020 sulphur cap. The two organisations will hand cautioning letters to vessels throughout 2019.
With vessels pulled from service for upwards of a month to be scrubber-retrofitted, analyst Drewry says the impact on capacity could spur a temporary spot market boost. The short-term spike is greater enhanced, as the emphasis for exhaust technology is towards larger ships. Although only 5% of the fleet is expected to be retrofitted, this ratio is doubled in teu terms.