How Have Shipowners Benefitted From Investing In Green Technology?

As of 1 January 2020, the cap of the sulphur limit in marine fuel has decreased from 3.5% to 0.5% in accordance with Annex VI of the International Convention for the Prevention of Pollution from Ships (known as MARPOL Convention), Regulation 14 which aims to reduce sulphur oxides (SO x) emissions from ships.

Shipping companies are required to use low sulphur fuel such as marine gas oil ("MGO"), marine diesel oil ("MDO") or other compliant blends unless fitted with "an approved equivalent method of compliance" (using the words of the 2019 Guidelines for Consistent Implementation of the 0.5% Sulphur Limit under Annex VI of the MARPOL Convention).

In accordance with Annex VI of the MARPOL Convention, Regulation 4, an "approved equivalent" includes any "fitting, material, appliance or apparatus, such as SO x scrubbers, to be fitted in a ship .". There is certainly debate as to whether SO x scrubbers are green technology but, in so far as financing is concerned,