Author: Feray Yuksekbas Kavas

Hurricane Harvey has taken its place as one of the costliest storms in U.S. history, with billions of dollars in property damage expected, and the as-of-yet undetermined lost economic activity, to the shipping industry, and energy and chemical industries. In fact, it is estimated that Harvey will be the second highest-cost hurricane after Hurricane Katrina, which hit New Orleans in 2005. As per Moody’s, damage from Hurricane Harvey is projected to be as high as $40 billion to $50 billion. The Houston metropolitan area is the fourth largest populated city in the U.S. The region continues to grow, and...

The International Maritime Organization (IMO) had set January 1, 2020 as the date to implement a low-sulfur fuel oil law. They are aiming for a noticeable reduction in the sulfur content of fuel used by ships. The IMO’s low-sulfur emission law requires shippers to reduce fuel sulfur emissions to 0.5% from the current level of 3.5%. This was a milestone decision for human and environmental health, as sulfur emissions have been linked to certain respiratory deceases and complications. When the start date of this program was initially accepted as 2020, the IMO advised that they will make reviews and give...