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REVIEW | ON THE OCEAN: PART ONE


2007, we reported that Kawasaki Kisen Kaisa (“K” Line) and SAL Group inaugurated their joint heavy lift shipping operations, following the Japanese shipping company’s purchase of 50 percent of the Germany-based line’s shares from the Heinrich and Rolner families, which had owned and managed SAL since 2001.


Striking a deal In 2011, “K” Line exercised an option to purchase the remaining 50 percent stake in SAL and become full owners of the line. Ten years later – as reported in HLPFI’s September/October 2017 edition – SAL has returned to German owners, with “K” Line striking a deal to sell the multipurpose shipping line to Bremen-based Harren & Partner, which also owns Combi Lift.Although the value of the transaction was not disclosed, industry analysts suggested that it would be nowhere near the price that “K” Line originally paid for the German entity back in 2007. “K” Line said that SAL had struggled since the 2008 financial crisis


“Is the Beluga debacle an isolated incident,


or a warning shot over the bows of an industry just beginning to feel the true ramifications of a recession which hit the rest of the world three years ago?”


HLPFI (in 2011)


ENVIRONMENTAL MATTERS


December 12, 2015, heralded a significant step towards lowering global greenhouse gas emissions (GHG) with the signing of the Paris Agreement on climate change. As part of global efforts towards combatting climate


change, environmental concerns have led to an increased focus on regulations in the shipping sector. The International Maritime Organization’s (IMO) ballast


water management (BWM) convention - which requires that ships manage their ballast water to remove, render harmless, or avoid the uptake or discharge of aquatic organisms and pathogens within ballast water and sediments - came into force during 2017, but has subsequently been delayed until 2019. Speaking to HLPFI in 2016, Alfa Laval estimated that shipowners will spend EUR12 billion (USD13.4 billion) on the installation of ballast water management systems. Ongoing concerns relate to uncertainty around the


requirements for ballast water treatment systems and whether those compliant with the IMO convention will also comply with US ballast water regulations. In 2015, new legal requirements came into force in N orth


Europe and North America, lowering the maximum allowed content of sulphur in fuel burned in the emission control areas (ECA) to 0.1 percent from the previous 1 percent. In 2016, the IMO finally made good on an agreement to cap


sulphur levels, by confirming a cap on the sulphur content of marine fuels sold around the world at 0.5 percent by 2020.


HLPFI10 | 19


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