The first day of the IBIA Annual Convention 2020 has come to an end. All About Shipping reports the highlights of the convention and the topics addressed during the session.
Shipping Markets
The EMEA regional panel – shipping markets panel discussed the turmoil in freight markets this year with the wild swings in demand brought about by the COVID-19 pandemic.
The conversation covered the seafarer’s crisis, the health of global trade, and the decarbonization agenda.
Bunker Suppliers and Buyers
In the Americas bunker suppliers and buyers panel, the discussion started off with suppliers giving their perspective of how the IMO 2020 transition went in the Americas.
Michael Mcnamara of Carnival gave an impression of some of the traumas cruise lines have had to go through this year.
The conversation then moved on to a more general look at the current pressures in the market.
Credit and Risk Management
In America’s credit and risk management panel, Jason Silber of SeaCred led a discussion of the financial landscape in the shipping and bunker industries this year.
The conversation ranged around how due diligence checks have started to change this year, how the change in demand has changed companies’ finances, and how the health of the cruise industry can be assessed in an era where most of their ships have been left at anchor.
Legal, Compliance, and Regulations
The legal, compliance, and regulations panel saw Steve Simms of Simms Showers question a group of four other legal experts on how regulatory change has affected their organizations this year.
Alexis Rodriguez of the Panama Canal Authority gave an idea of how the inspections regime of his country has shaped up.
The conversation moved on to looking at how authorities are dealing with the fuel declaration process.
Bunker Quality
For the last session of the day, Patrick Burns of S&P Global Platts led the Americas bunker quality panel looking at some of the quality issues this year’s fuel transition has brought up.
Panelists discussed the off-specification rate seen in the Americas, some of the problems caused by blending the new VLSFOs, and the logistics issues testing companies are experiencing because of the COVID-19 pandemic.
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Source: All About Shipping
