Cesare d’Amico: “It would be better if all ships were marine gasoil fuelled”
The experienced shipowner met other important stakeholders within the dry bulk market sector at the Maritime CEO Forum in Monaco
Montecarlo (Monaco) – “It would have been better if from January the 1st 2020 everybody decided to use marine gasoil for their ships. In fact, shipowners will be the weaker party on the market, and they will suffer great damages” (compared to other players). This is one of the main issues dealt with by d’Amico Società di Navigazione managing director Cesare D’Amico during his speech about the future of the dry bulk market delivered at the first Maritime CEO Forum in Monte Carlo.
The Roman shipowner, as well as his colleagues gathered at the event, expressed his critical judgement about the IMO’s work, which imposed a limit on sulphur emissions (0.5% with the Low Sulphur Cap) which is very difficult to comply with, thus implying significant investments and difficult decisions. “Since the Exxon Valdez accident (resulting in the double-hull obligation for liquid bulk carriers, ed.), this is the second time that politicians imposed new regulations to a sector that they do not know well. Some companies still hope that the entry into force of the regulation will be postponed, and many companies are not ready to face this change, but those who are not prepared might have serious problems. It will definitely be challenging”.
Godbulk managing director John Michael Radziwill asked for a general slow-down of the cargo ships service speed which, besides reducing environmental pollution, would also reduce the hold offer on the market, thus increasing charters”, the shipowner explained referring to the measures taken by France to limit the environmental impact of shipping.
Gestion Maritime CEO Danilo Fumarola event required “a limit to ships service speed imposed by law”.
The experienced Italian shipowner d’Amico is cautiously optimistic about the growth prospects of dry bulk for 2020: “Next year we will have a lot of tonnage on the market, more than this year, and the economic trend is not particularly encouraging. Besides, there are the uncertainties about the impact of Imo 2020 regulations on the market”. However, Gruppo d’Amico di Navigazione managing director believes that in the long term “dry bulk will be characterised by less volatility”, although “today it is more difficult to have a medium and long-term vision allowing us to think about new investments. They are all waiting to see the next challenge we will have to face after the scrubbers”.