A mixed week at IMO
Confirmation that ships trading in the polar regions would have to follow safety and environmental provisions was welcomed; other proposals were less well-embraced
A LOT of painstaking, necessarily slow work takes place in the International Maritime Organization (IMO). Someone closely involved told me recently that being part of the IMO process often seems significantly less exciting than watching paint dry.
However, last week's meeting of IMO's Marine Environment Protection Committee (MEPC 68) dealt with several important subjects, some of them controversial.
The least controversial - and very welcome - outcome of MEPC 68 was confirmation that ships trading in the polar regions will have to comply with strict safety and environmental provisions specific to the harsh conditions in the Arctic and Antarctic. This follows the adoption of the environmental part of the International Code for ships operating in polar waters.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources