The Business Times

Boom time ahead for equipment suppliers, yards

Ballast Water Management Convention 2004 is now imminent with ratification from 44 states representing nearly 33% of global tonnage

Published Tue, Feb 24, 2015 · 09:50 PM

FOR quite a while, shipping industry organisations have been warning that shipowners would face a surge in costs to meet new regulations.

There has been uncertainty, until now, about one of the main factors that will affect shipowners - the need to fit equipment to eradicate organisms in ballast water.

Now, though, as the senior claims executive of liability insurer UK P&I Club, Jacqueline Tan, says, the industry must move quickly to prepare for the strict ballast water management controls coming into force.

"The coming into force of the Ballast Water Management (BWM) Convention 2004 is now imminent. As at Feb 12, 2015, 44 states representing 32.86 per cent out of the requisite 3…

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