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Fichte & Co Legal, one of the leading law firms in the UAE, held a seminar in Dubai to address the IMO (International Maritime Organization) 2020 mandate and its impact on the world?s leading ports, such as Fujairah Port and Singapore
With the rapidly approaching regulatory change forcing ship-owners to comply one way or the other, the global marine fleet is set to experience great change over the next six months.
Fichte & Co?s event featured maritime experts and government officials providing industry insights on how Singapore and the UAE can continue to thrive through this impending change.
Jasmine Fichte, legal founder and managing partner of Fichte & Co, said, ?The UAE has already established itself as a nation that prioritises reinforcing a greener footprint and a more sustainable future. The implementation of the UAE 2021 vision, which entails a full pledged sustainable structure for the country?s future, accordingly aligns with the IMO2020 sulphur cap.?
?UAE stakeholders dealing with HSFO (high sulphur fuel oil) should seek out a more sustainable plan to secure their position in the industry before the mandate is initiated and the seminar will enable forward-thinking to proactively plan for this,? she added.
?Alternative methods of vessel power generation and more innovation in wider industrial uses of fuel oil are required for the UAE as part of a secured plan for maritime to continue thriving in the both regionally and globally,? she noted.
Hessa Al Malik, executive director of maritime transport sector at the federal transport authority - Land and Maritime (FTA), emphasised, ?As a more stringent standard becomes the norm with the sulphur cap shifting from 3.5 per cent to 0. 5 per cent on 1 January 2020, ship-owners and marine vessel operators must be adequately prepared now to avoid any last minute hassles.?
The seminar was attended by representatives of both private and government, including Abdulla Al-Mestrih, acting head of the international cooperation department at the Federal Transport Authority for Maritime and Land (FTA).
The speakers shared their insights on how to continue to grow and prosper in the maritime sector in both Singapore and the UAE despite the imminent change of the IMO2020.