Regulators must act quickly to fix fatal flaws in the way the 0.5% bunker sulphur cap will be introduced next year, the president of Union of Greek Shipowners (UGS) said on Wednesday.

If not, they risk plunging the industry in disarray that may cost human lives, TheodorevVeniamis said.

"It’s beyond comprehension that just a few months before the regulation kicks off, so many implementation issues remain open, which require immediate solution," Veniamis said in a shipping conference in Athens.