Quick Update: BWM – Preparedness starts now.

When the industry awoke to the news that the IMO’s Marine Environment Protection Committee had voted to delay the implementation of the Ballast Water Management Convention by two years – taking the full compliance date to the 8 September 2024 – owners and technical directors and managers must have breathed a heavy sigh of relief.

However, let us not underestimate of the scale of the job in hand. The International Chamber of Shipping’s Chairman Esben Poulson estimated that the BWMC will cost owners £100bn; so it is understandable why some owners are pleased about the delay. A two year delay may buy owners more time, but in the grand scheme of things, are we likely to see freight rates hike up dramatically in those two years to give owners breathing space?

It is going to be a Herculean task to get all required vessels ready for compliance in seven years’ time, but it isn’t impossible. It has always been a long-held belief by CTS that technical expertise should be leading the conversation to a sustainable and manageable future for the whole industry.  That is why we are delighted with the launch of our Ballast Water Management: the guide which is intended to answer all the questions owners and technical directors/managers should have, as well as examine the BWMC in detail and pick out what aspects directly affect these two groups.