30 YEARS YOUNG D

ear Reader

This issue marks IBIA's thirtieth anniversary by looking back and looking ahead. Nigel Draffin does a masterly job of sketching the organisation's history. Perhaps that is not surprising, he was one the small band who established IBIA and is now one of the even smaller band that has been involved in its development throughout those three decades. Not surprisingly, his article is almost my number one must-read piece in this issue, even if nostalgia isn't like it used to be.

But, it is no good just looking astern. Safely navigating what lies ahead is the task that faces all of IBIA – its Board, Director, Staff and, most importantly, members. So, the key message of this issue comes from IBIA Chair Tim Cosulich. Based on recent hard work by all involved to strengthen the association as profound changes sweep through the industry, he says that “the good news is that 2023 will be a year of strong evolution for IBIA”.

Those changes are, as ever, covered in detail in this issue. Much of our coverage is focused on technical and regulatory change. However, in a thought-provoking article on the commercial side of bunkering, well known industry consultant and IBIA board member Adrian Tolson gives us a new concept and a new word. Actually, Tolson explains two words and two concepts, namely 'disintermediation' and 'reintermediation' in an optimistic Traders feature that asserts traders are “learning how to consistently make money”.

Turning to regulatory matters, IBIA Director and representative at IMO Unni Einemo says that in July “all eyes will be on the 80th session of the IMO’s Marine Environment Protection Committee (MEPC 80) to adopt a significantly more ambitions greenhouse gas strategy”. She sketches out the main issues and observes: “This will be a tough debate, but failure to adopt a revised IMO GHG strategy at MEPC 80 is not an option anyone wants to contemplate.”

Unni Einemo also looks back at the recent MEPC 79 and explains in concise terms the relevance of decisions taken then to the bunkering industry, ranging from the now agreed Mediterranean ECA through flashpoint reporting on the BDN, synthetic fuels, scrubbers, black carbon and the Arctic, biofuels and LCA guidelines to, finally, bunker licensing.

The last of those topics is closely linked to moves to mandate bunker measuring. As reported in our Quantity feature, there has been a major development in this respect, with the port authorities for Rotterdam, Antwerp and Zeebrugge announcing that bunker measuring systems will become compulsory. This is being warmly welcomed by IBIA.

Something that has received a decidedly mixed welcome is the coming into force of IMO's EEXI and CII regulations. Our feature takes a look at the discussions over, particularly, CII compliance but also reports on developments to assist ship operators with meeting the new requirements.

Bulk carrier owners' association Intercargo has strong views on CII and believes that the current CII framework should not be used as a benchmark for IMO’s mediumterm measures. Another body known for making its views clear is the World Shipping Council (WSC). On our Industry News pages, we report that WSC together with Danish Shipping and the Methanol Institute urge decision-makers to reach an agreement on the pending FuelEU Maritime legislative package intended to reduce shipping GHG emissions. Among several points made, WSC applauds the well-to-wake principle.

That reference highlights that shipping's decarbonisation cannot be seen in isolation. What is going on ashore, or at least very close to the shore, can be of relevance to shipping and bunkering. So, rather unusually, two of our features are mainly about shoreside development.

Our Carbon Capture feature reports that an influential Oxford University report finds that greenhouse gas reduction targets cannot be met without a massive development of carbon capture technologies. Such a move does appear to be already underway, notably now including in US where previous attempts to promote carbon capture had stalled. Increased research and development in this technology is bound to have implications for shipping. Meanwhile, a project is underway to build nuclear powered electricity generating barges for operation in Indonesia. They will use molten salt reactor technologies. It is being suggested that this is a step towards nuclear powered ships. Perhaps so, but I would keep my eye on carbon capture which is no longer the dark horse in the race to net zero.

As ever there is plenty more in this packed issue, including insightful regional reports from John Rickards on the Americas and the Western Mediterranean. And, for this issue only, we even include a poem.

This issue comes out just in time for the IBIA Dinner and I hope to meet you there.

Best wishes

David Hughes Editor