Cost of Smoke

Financial Mirror (Cyprus) - - FRONT PAGE -

Tues­day’s ses­sion kept the mo­men­tum, start­ing with the de­bate on “The cost of smoke”, mod­er­ated by Ioan­nis Ef­s­tra­tiou, Act­ing Di­rec­tor of the Depart­ment of Mer­chant Ship­ping of Cyprus. The panel in­cluded Ge­or­gios Christofi, Head of En­vi­ron­ment & Ca­pac­ity Build­ing Unit of the Euro­pean Mar­itime Safety Agency, Tony Paul­son, Chair­man of the Pol­lu­tion Com­mit­tee of the In­ter­na­tional Group of P&I Clubs, Peter Hinch­liffe, Sec­re­tary General of the In­ter­na­tional Cham­ber of Ship­ping and Philippe Bau­mans, Hull Panel Chair­man of the In­ter­na­tional As­so­ci­a­tion of Clas­si­fi­ca­tion So­ci­eties.

This panel de­bated the air pol­lu­tion bur­den im­posed by ship­ping, which in the past years has led to an up­surge of in­ter­na­tional, re­gional and na­tional reg­u­la­tions. Some of these reg­u­la­tions will en­ter into force in the near fu­ture while oth­ers are on the de­vel­op­ment stage.

Green­house gases (par­tic­u­larly CO2) and Sul­phur Diox­ide (SO2) are nowa­days the key en­vi­ron­men­tal is­sues on air emis­sions. Pan­el­lists re­ferred to the im­ple­men­ta­tion of the new EU Reg­u­la­tion of Mon­i­tor­ing, Re­port­ing and Ver­i­fi­ca­tion (MRV) of CO2 emis­sions from large ships us­ing EU ports and on the fur­ther re­duc­ing of SO2 emis­sions to 0.5% world­wide from 1 Jan­uary 2020.

Dur­ing the de­bate, pan­el­lists agreed that Liq­ue­fied Nat­u­ral Gas (LNG) is maybe the fuel of the fu­ture since it sig­nif­i­cantly re­duces air emis­sions.

From the in­surance per­spec­tive, it was noted that greener ships will not au­to­mat­i­cally get a dis­count in pre­mi­ums, as pre­mi­ums are based on claims records. How­ever, a less greener ship has a higher prob­a­bil­ity to have a worse claims record. Thus, there are in­di­rect in­cen­tives on in­surance with re­spect to greener ship.

It was noted that the ship­ping in­dus­try is pre­pared to take re­spon­si­bil­ity for its air emis­sions but it should cer­tainly not be blamed for global warm­ing.

The pan­el­lists high­lighted that cli­mate change and en­vi­ron­men­tal pro­tec­tion re­quire a global re­sponse par­tic­u­larly when deal­ing with ac­tions from the ship­ping sec­tor. Mar­itime trans­port is widely recog­nised as an en­vi­ron­men­tally sus­tain­able and en­ergy ef­fi­cient mode of trans­port. it poses such as cy­berse­cu­rity. The im­por­tance of pre­par­ing em­ploy­ees and crews on the fu­ture tech­nolo­gies through train­ing was high­lighted.

Au­ton­o­mous ships will be­come a re­al­ity, but we should not ex­pect to see un­manned ships for many years to come since sea­far­ers on board can­not be re­placed by vul­ner­a­ble dig­i­tal sys­tems.

On cy­berse­cu­rity, it was stressed that cy­ber risk is here to stay for both com­pa­nies and ships but cy­ber risk man­age­ment is pos­si­ble and achiev­able. There­fore, the ship­ping in­dus­try should take pro­tec­tive mea­sures. Per­sonal, con­fi­den­tial and op­er­a­tional in­for­ma­tion is at risk. The ship­ping in­dus­try con­sti­tutes a tar­get for cy­ber at­tacks since a lot of in­for­ma­tion and money is at stake.

It was noted that cy­berse­cu­rity sus­tain­able in­vest­ments should be ma­te­ri­aliased and the level of cy­ber ma­tu­rity should be con­tin­u­ously re­in­forced as the cy­berse­cu­rity is­sue needs to be a con­tin­u­ous im­prove­ment process.

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