Keynote Address from the Commitment to Excellence Award Winner 2024 - Product Tankers
Presented to an individual or entity who in the opinion of the Riviera editorial team, has made a contribution of outstanding significance to the international product tanker industry.

Charting chemical shipping’s next phase
Global economic factors have led to a controlled growth in the chemical fleet. A strong market has resulted in fewer vessel retirements and an active S&P market. This paper examines supply/demand fundamentals driving rate and price increases and considers the impact of China’s growing influence in the petrochemical industry and shifting trade flows on chemical shipping demand.

• What has been propping up chemical rates and prices in 2023
• China’s dominance within the petrochemical industry and how this may affect demand for chemical shipping
• How trade flows are shifting and tonne-miles are increasing due to geopolitics
• Fleet growth and containing oversupply risks
• Main challenges affecting chemical shipping in 2024
• Where will future demand come from

Bonita Nightingale, Senior Chemical Market Analyst, Maritime Strategies International

Navigating product tanker headwinds and crosscurrents
The product tanker segment is currently benefiting from the disruptions caused by Russia’s invasion of Ukraine. This paper examines the factors that could either maintain high conditions or cause rates to return to normal and what this means for vessel owners and the supply chain.

• How trade flows and miles are increasing due to geopolitical shifts
• Does slower economic growth and oil demand signal market normalisation?
• Are OPEC+ supply increases balancing longer voyages spurred by the EU embargo?
• Clean tanker share gains from IMO regulations on residual fuels
• Digitalisation and enhanced cargo logistics and performance
• Scrubber retrofits and early phaseouts of non-compliant tonnage

Christopher Pålsson, Managing Director, maritime-insight

Niklas Bengtsson, Director, maritime-insight

Will it be smooth sailing for LPG shipping from 2024 to 2030?
With Asian demand surging, bottlenecks impacting key trade arteries and supportive market tailwinds, 2024 dynamics point to buoyant freight rates and earnings potential across LPG shipping. However, notes of caution are being expressed around elevated rate volatility and downside risks.

• Recent history in the LPG market
• LPG trade growth, fleet expansion and potential oversupply
• Do IMO emissions regulations offer medium term respite squeezing older capacity?
• Middle East and North American export capacities divergent paths
• Ammonia seaborne trade outlook
• Orderbook delivery timing, trade needs and emissions mandates
• Implications of speculative orders for LPG dual-fuel designs
• Asset values and outlook for the VLGC sector

Q&A

Networking coffee break in the exhibition area

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Impacts of migrant rescues and regional conflicts on tanker shipping
Tanker vessels transiting the Mediterranean and Red Seas face growing complications from rescuing distressed migrants and risk attacks by regional militant groups. This paper examines key issues and provides risk mitigation recommendations.

• Rescuing large numbers from unseaworthy vessels during SAR operations 
• Lack of disembarkation protocols leaves ships hosting migrants indefinitely, creating tensions
• Costs from delays, damage, fines and extended stays hosting migrants
• How clear disembarkation protocols and access to secure ports would reduce uncertainty
• How compensation funds could offset costs incurred during extended rescue operations
• Houthi rebel attacks in Red Sea and Gulf of Aden 
• Repelling missile strikes and attempted boardings 
• The pros and cons of switching off AIS transponders
• Rerouting: more trouble than it is worth? 
• Recommendations when transiting high-risk zones

Ian Wilkinson GCGI, PortRisk Manager, Risk Intelligence

The rise of dark and grey fleets, and ship-to-ship (STS) transfers on the high seas
The rise of so-called ‘dark fleets’ carrying sanctioned oil cargoes and covert STS transfers represents an emerging threat to ethical operators across chemical, product and LPG tanker trades. This paper examines the proliferation of vessels concealing movements to transport embargoed products, defines the risk profiles involved, identifies hotspots for illegal STS operations, and provides recommendations on how the industry can counteract these practices while avoiding association with dubious networks.

• Shades of grey: what grey and dark fleets mean for chemical, product and LPG tanker trades
• Defining the different risk profiles involved
• STS transfers of Russian products
• Where is this happening?
• How can industry counteract these practices?
• Avoiding being tainted by the dark fleet

Ami Daniel, CEO & Co-Founder, Windward

Q&A

Panel: The financial landscape for tanker operators through to 2030
This panel will provide valuable guidance for operators seeking to access the capital necessary for maintaining a competitive, green tanker enterprise through 2030 and beyond.

• Understanding the criteria for funding
• Who is financing today’s vessels
• Sustainability-linked financing
• How to secure green finance
• Financiers entering the tanker market: what impact does this have?
• Impact of banks co-owning and operating vessels: what role should they play?

Lightning talk - Nitrogen Systems: Essential Equipment for Alternative Fuel Operation

Networking lunch break in the exhibition area

Panel: Tanker incidents, accidents and explosions: reporting, findings and experience sharing

• Incident reporting: how to share incidents with the industry 
• Background to the incident
• Impact of hazardous materials on crew and the environment
• Investigation processes and findings
• Areas of improvement and recommendations for future operations

Yannis Calogeras, UK & Ireland Marine Chief Executive, Bureau Veritas

Capt John Lloyd, Chief Executive Officer, The Nautical Institute 

Tom Morgan, Partner, HFW

Panel: Navigating the IMO GHG regulatory maze
Tanker owners are facing complex compliance considerations as IMO works towards a concrete agreement on mid-term greenhouse gas (GHG) emissions reduction measures by 2025. These conference papers will explore what came out of MEPC 81, including proposed regulatory structures and their implications for fuel and emissions reduction technology investments. Panellists will consider how goal-based energy efficiency standards, market-based mechanisms, transitional assistance and data collection will shape tanker decarbonisation pathways and commercially viable operation of low and zero-carbon vessels by 2030.

• GHG-intensity metrics and reduction goals
• Rewarding early investments based on emissions cuts
• Fair transition for global fleet interests
• Flexible vessel pooling for efficient fuel uptake
• Preventing stranded assets with clear standards

Panel: Mitigating EU ETS risks and costs
With the sweeping EU Emissions Trading Scheme (ETS) entering into force for shipping in 2024, tanker companies face added layers of compliance, administration and costs that demand integrated strategies. This panel explores key considerations around efficiently tracking emissions, securing allowances, managing charterer agreements, containing exposure through operational refinements, and ultimately positioning for a low-carbon future. From analytically pinpointing reduction opportunities to staving off detention or port access denials, stakeholders require multifaceted plans to traverse the ETS terrain.

• Streamlining MRV data collection, verification and integration
• Navigating volatile EU Allowance procurement options
• Charterparty risk management and dispute resolution preparedness
• Emissions savings through voyage optimisation and slow steaming
• Assessing fleet adjustment economics under higher CO2 price signals
• Building strategic roadmaps balancing costs, compliance and decarbonisation

Q&A

Networking coffee break in the exhibition area

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The intersection of new EU regulations, global standards, and stakeholder expectations presents challenges and opportunities for the chemical, product, and LPG shipping sectors. In particular, The EU Emissions Trading System and Fuel EU Maritime rules are forcing tough decisions on fuel choices, voyage routing, and commercial strategy for shipowners and operators.

• How owners can balance compliance costs against freight rates and stakeholder expectations.
• Fuel EU Maritime denotes added complexity for fuel purchasing and emissions reporting.
• Evolving customer expectations, vessel selection criteria including environmental ratings and metrics.
• Use of biofuels as a compliance option for Fuel EU Maritime and a way to improve environmental ratings. 
• New opportunities in the supply and distribution of biofuels.

Chairman’s closing remarks and close of day 1

Evening drinks reception    

Edwin Lampert, Executive Editor & Head of Business Relations, Riviera Maritime Media

Jan Ove Ødegård, Marine Manager, Odfjell SE

API integration with SIRE 2.0: reducing workloads

• What are APIs and how will they work with SIRE 2.0?
• Determining appropriate architecture, data-sharing protocols, security controls and an integration roadmap
• Reducing operator workloads by seamlessly transferring documentation
• External IT integration risks and mitigations: navigating API implementation and connectivity to third-party systems 
• Standardising vessel operational data: achieving interoperability for sharing machinery, performance and cargo data 
• Emerging digital technologies beyond APIs: blockchain, IoT sensors and machine learning 

Jan Ove Ødegård, Marine Manager, Odfjell SE

CDI’s 10th Edition Ship Inspection Report: Two month’s after launch
The Chemical Distribution Institute (CDI) much-anticipated 10th Edition Ship Inspection Report (SIR) launched in February 2024. It represents a significant milestone in CDI’s mission to ensure the safe and efficient transportation of chemicals throughout the global supply chain. With an expanded scope covering a broader range of vessel types and the introduction of environmental benchmarking capabilities, the 10th Edition SIR is set to revolutionise the way ship inspections are conducted and provide valuable insights into the environmental performance of vessels.

Capt Howard N. Snaith FNI, General Manager, CDI

Q&A

Networking coffee break in the exhibition area

Tank cleaning and its role in improving CII ratings
Tank cleaning’s role in improving Carbon Intensity Indicator (CII) ratings under IMO’s new sustainability measures

• Managing tank cleaning under the new CII regime (coated and stainless-steel tanks)
• Tank cleaning technologies to meet sustainability targets
• Charterers’ requirements and tank cleaning under the new CII regime – is it new?
• Will CII change the way the chemical carrier tanker trade operates in the future?
• Coating selection and coating maintenance effects on tank cleaning

Guy Johnson, Director, L&I Maritime (UK)

Clean hull with advanced robotics - commercial and regulatory benefits

This presentation will examine the advancing solutions for hull cleaning by using advanced robotics and continuously monitoring vessels fouling intensity. The presentation will give insights of the use of robotics to maintain a clean hull, exploring the regulatory landscape of biofouling management and what would be the benefit for protecting biodiversity, preserving fuel and cutting emissions by clean hulls

• Jotun’s approach to clean hulls with advanced robotics
• Emission reductions when using advanced robotics
• Regulatory landscape around hull cleaning

Petter Korslund, Regulatory Affairs Manager, Performance Coatings, Jotun A/S

Q&A

Networking lunch break in the exhibition area

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Case study LNG as a marine fuel
James Fisher has opted to use LNG as a marine fuel and has dual fuel vessels on order. This presentation will share the practical challenges faced and what has/is being done to overcome them to enable the adoption of LNG as a marine fuel.

Nicola Ellwood, Voyage Operations Manager, James Fisher Tankships

Case study: Methanol as a marine fuel

Erik Thun AB is giving a presentation about their ideas behind of ordering dual fuel vessels with the potential of using methanol as a marine fuel. This presentation will share their findings and experiences to date, review the technical and operational considerations, reflect on their fuel choice, how their choice helps meet their sustainability targets and plans for the future.

• Fleet transition process: details on the evaluation, purchasing, communications process of transitioning to methanol dual fuel vessels
• Sustainability impact: analysis and metrics around emissions reduction, efficiency improvements, and alignment with ESG commitments and reporting after switching to methanol
• Future fleet plans and vessel orders: elaborating on upcoming new builds with methanol dual fuel capabilities, examples of new design requirements or considerations

Henrik Källsson, Deputy Managing Director, Erik Thun

A seafarer training framework for decarbonisation 
The International Chamber of Shipping, a founding member of the Maritime Just Transition Task Force, is introducing a new project to develop training for seafarers in relation to methanol, ammonia and hydrogen. This framework is being created to eventually be included in the IGF Code training specified in the STCW Code.

• New-build orders investing in alternative fuel technologies are on the rise according to statistics
• LNG, methanol-ready and ammonia-ready technologies are the preferred alternatives
• The development of regulatory frameworks for LNG can also be applied to methanol, ammonia, and hydrogen
• Project deliverables, timelines, and aims to support Maritime Education and Training institutes worldwide
• Developments resulting from February’s IMO HTW Sub-Committee session

Arvind Natrajan, Senior Marine Adviser (Crewing & Training), International Chamber of Shipping

Q&A

Conference chairman summary and close

Edwin Lampert, Executive Editor & Head of Business Relations, Riviera Maritime Media

Networking coffee break in the exhibition area

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