On the 27th of February 2019, our Advocate, Zacharias Kapsis, represented A. Karitzis & Associates L.L.C., participating at the 3rd Annual Capital Link Cyprus Shipping Forum which took place in Limassol at the Columbia Plaza.
The event aimed to highlight the significant role of Cyprus as a maritime, energy and logistics hub and as an investment and business destination.
The epicentre of the forum was the forthcoming IMO regulation 2020 regarding the implementation of the new types of marine fuels. On 1st January, the International Maritime Organisation (IMO) will implement a new regulation for a 0.50% global sulphur cap for marine fuels.
Under the new global cap, ships will have to use marine fuels with a sulphur content of no more than 0.50% against the current limit of 3.50% in an effort to reduce the amount of sulphur oxide. The Emission Control Areas (ECAs) will remain at the 2015 standard of 0.1% content.