In light of the recent publication of ISO 8217:2024 as well as upcoming environmental regulations which will significantly impact the shipping and marine fuel sectors, Petrospot is running two training workshops on 23 July at the office of Norton Rose Fulbright LLP in London.

Course 1:  9:30 am – 12:30 pm

Ringing the changes: Insights on the new ISO 8217:2024

The much-anticipated ISO 8217:2024, covering distillate and residual fuels, has been published, with the scope of the revised fuel specification now including very low sulphur fuel oil (VLSFO) as well as fuel testing parameters for the increasingly popular biofuels.

Other changes include the introduction of a minimum viscosity limit for residual grades, while the presence of chemicals which have the potential to cause vessel operational issues, such as organic chlorides, is also addressed.

ISO 8217:2024 is the seventh edition of this fuel specification and in this new sharply focused half-day course, bunker industry expert Nigel Draffin explains the rationale behind the publication of a revised version and gives course delegates a step-by-step explanation of the changes and their implications for the buying, selling and testing of marine fuel.

Draffin will also look ahead to how fuel specifications and testing parameters are evolving for alternative fuels such as LNG, methanol and ammonia, and how the use of synthetic fuels and carbon capture is being approached.

This timely half-day course is highly relevant for experienced and new players in the shipping and marine fuel sectors whose roles require a sound knowledge of ISO 8217:2024 in relation to the commercial and operational elements of the bunker business.

Course 2:  2:30 pm – 5:30 pm

What, why, how: Understanding EU and IMO environmental regulations

This practical and concentrated half-day course is aimed at those whose roles require an understanding of new and upcoming environmental regulations for shipping as well as those who are tasked with mitigating company exposure and undertaking compliance.

The course will begin with an overview of the regulatory landscape with a focus on the EU Emissions Trading System (ETS), FuelEU Maritime and the IMO’s GHG strategy.

The aim is not to reiterate the content of these complex and ambitious regulations but to look at what has been learned so far in terms of their wider impact, as well compliance strategies. The session will look at the questions that are already circulating about their scope and their implementation.

The course will consider the market outcomes of the regulations, with reference to:

• How the complexity of the new rules could increase investment risk and delay decision-making
• Alternative fuel choices
• Increasing pressure on the trading fleet, with tightening supply
• The impact on negotiations between contracting parties

There will then be a focus on managing risk and contractual exposure, covering

• Business opportunity – it’s not just about cost and meeting compliance
• The intention of the regulations versus the text
• The business risks ‘cargo interests’ may face
• Options to mitigate risks
• Becoming a ‘preferred’ supplier, buyer or business partner

The course will conclude with a panel discussion which will offer key takeaways as well as inviting delegate participation and questions.

The course facilitators are Martin Crawford-Brunt, CEO of Lookout Maritime and Baltic Exchange Council Member, and Philip Roche, Partner, Norton Rose Fulbright.