Breaching global sulfur regulations could cost insurance

Shipowners should not assume that insurance will continue to cover if the global sulfur requirements in 2020 are violated, warns insurance broker Marsh. At Skuld, it is seen as unlikely that there will be prejudice in the P&I coverage, the CEO tells ShippingWatch.

Photo: /ritzau/Marius Nyheim

It is time to take action and take a stance, global insurance broker Marsh tells shipowners, which must comply with the global sulfur regulations in 2020, where vessels may not sail on fuel with sulfur content exceeding 0.5 percent.

If ships do not comply with these rules from Jan. 1 2020, the carriers risk losing their insurance coverage, says Marsh in a report, where the broker reviews various guidelines and laws in the field. These guidelines and laws have naturally not been tried at courts yet.

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