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
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.
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