The London-based group says information from national shipowner associations shows that many governments are not yet prepared to implement the Annex VI of the Marpol Convention, which will drop maximum sulphur content in marine fuel to just 0.1% in so-called emission control areas (ECAs) starting in January.

“The shipping industry is investing billions of dollars in order to ensure compliance with this major regulatory change, and the huge costs involved could have a profound impact on the future structure of the entire shipping industry,” said ICS Secretary General Peter Hinchliffe.