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On 8 June 2022, the European Union (EU) decided to impose a ban on seaborne imports of Russian crude oil and oil products. The ban on crude oil will take effect on 5 December and by then the EU must have found new suppliers and Russia must find new buyers.
Since the beginning of 2019, the EU has had its own set of rules for ship recycling. The rules may even influence shipowners not using an EU flag.
The COVID-19 pandemic affects the industry’s endeavours to implement the upcoming European Union’s Ship Recycling Regulations (EUSRR) and many shipowners may not be able to finalize the required Inventory of hazardous materials (IHM) prior to the deadline.
Starting 31 December 2018, EU-flagged newbuildings must carry out an inventory of hazardous materials on board and carry relevant certification.
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