Marine Fuel Market Shift

International Maritime Organization (IMO)

• The IMO is responsible for setting policy and regulations for international shipping.

IMO's Governance

• The IMO's governing body, the Assembly, meets every two years.
• The Assembly is responsible for making policy and strategic decisions.

IMO's Funding and Enforcement

• The IMO's funding comes from its member states.
• The IMO's policies are enforced by its member states, who are responsible for implementing and enforcing them.

Key Areas of Regulation

• The three key areas of regulation for the IMO are:
  • Safety
  • Security
  • Environmental protection

IMO's Responsibility for Waterways

• The IMO's main responsibility regarding waterways is to ensure the safety and efficiency of navigation.

IMO's Committees

• The IMO has several committees tasked with making policies and developing rules and guidelines.
• There are seven committees in total.

IMO's History

• The first meeting of the IMO's governing body, the Assembly, was held in 1959.

IMO's Legal Issues

• The IMO is involved in various legal issues, including salvage, maritime liens, and limitation of liability.

Collaboration and Cooperation

• The main focus of strengthening collaboration and cooperation across the value chain is to achieve sustainable shipping.
• Industry collaborations, government partnerships, and international agreements play a crucial role in achieving collaboration across the value chain.
• Fostering sustainable innovations, such as gradually improving the energy efficiency of new ships and shifting to carbon-neutral fuels, is key to achieving IMO ambitions.

Energy Efficiency and Carbon-Neutral Fuels

• Gradually improving the energy efficiency of new ships is significant because it reduces greenhouse gas emissions.
• The shift to carbon-neutral fuels is significant because it reduces the carbon footprint of the shipping industry.