Sea Asia
IMO 2020 Bunker Fuel Sulfur Limit Compliance with Blockchain
Date: 11 April 2019
Location: Basement 2
Time: 1100 - 1130hrs
Presented by: Dastell LLP
Speaker: S Dastidar, Technical Director, Dastell LLP
P Mazumdar, Chief Technical Officer, Dastell LLP

Synopsis:

MARPOL VI Global sulphur cap will take effect from 1 January 2020, and ships will need to limit their fuel oil’s sulphur content up to 0.5%.

The quality of bunker fuel and verification of delivered quantity continue to be sources of concern to shipowners, charters, suppliers, refineries, financers and regulatory authorities.

Disputes over off-specs fuel oil, ambiguous quality specification, increased cost of handling non-compliant fuels, obligations & liabilities, time & money lost in remedying problems and fines,  enforcement issues likely to rise.

Transparency in tracking of the fuel oil over the supply chain on a single platform, integrated with IOT devices, while securing the proprietary and commercial information with Blockchain, will revolutionize marine industry and make it a responsible stakeholder towards the drive to protect the environment. Visualising the big picture and making data-driven decisions with Blockchain security will facilitate wide range of solutions like sulphur cap compliance and MRV.