The International Chemical & Product Tanker Conference ended its first day, on 23 April 2024, with insightful discussions on the regulatory landscape impacting the shipping sector
Among the prominent voices at the event was Lookout Maritime chief executive Martin Crawford-Brunt, who participated in the Navigating the storm panel.
Stressing the increasing intricacy of regulatory requirements, he highlighted the challenges posed by initiatives such as the EU Emissions Trading System (EU ETS) and the impending EU Maritime Fuel directive, which introduces novel elements such as pooling, banking and borrowing.
Reflecting on the changing regulatory landscape, Mr Crawford-Brunt advocated for a paradigm shift in the industry’s response. He underscored the need for a more nuanced approach that goes beyond mere compliance, urging stakeholders to delve into the intent behind regulations and engage in higher-quality conversations.
In light of the evolving trading dynamics, he suggested a re-evaluation of traditional segregations between commercial and trading functions to adapt to the new environment effectively.
Central to Mr Crawford-Brunt’s discourse was the concept of ’digital exhaust,’ which he coined during the panel discussion.
This concept refers to both actual emissions and the digital footprint left by shipping activities, encompassing aspects such as vetting, safety and emissions-reduction efforts.
Recognising the growing emphasis on transparency and accountability, he stressed the importance of demonstrating tangible progress in environmental stewardship.
In line with his commitment to driving positive change, Mr Crawford-Brunt has been recognised as a thought leader, and is in a collaborative initiative with the Baltic Exchange aimed at providing performance metrics to incentivise sustainable practices.
By establishing baselines for emissions and cargo discharge, this collaboration seeks to encourage responsible behaviour among industry players and foster a culture of continuous improvement.
Mr Crawford-Brunt reiterated the need for proactive engagement and collaboration to address the multifaceted challenges facing the shipping industry.
With the support of initiatives like the partnership with the Baltic Exchange, he expressed optimism about the sector’s ability to navigate regulatory complexities and embrace a more sustainable future.
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