IMO regulations to bring higher costs for shipowners and managers

The International Maritime Organization (IMO) will introduce new legislation that will see shipowners and managers face some high costs over the next decade. The changes will affect all walks of shipping life and will be levied on newbuildings delivered after the implementation date.

Many of the new regulations will come into effect after July 1 next year, and more rules will be gradually brought into place until 2010.

New equipment requirements include water-based fire fighting facilities to all newbuildings above 2,000 gt and the introduction of compulsory Emergency Escape Breathing Devices (EEBDs). This will be included in a complete revision of fire protection and safety of navigation IMO legislation.

The use of asbestos, halons and single-hull tankers under new the IMO rules will also be phased out, and there will be an increase in mandatory special surveys for other vessels. The number of ships which will need to have new equipment installed to comply with the new laws is said to be over 60,000.