zoom Norwegian-based ship classification society DNV GL has developed a new class notation aimed at helping shipowners to prepare newbuildings for the installation of a scrubber. As DNV GL claims, Scrubber Ready standard ensures that the necessary preparations are in place for a smooth and cost-efficient scrubber retrofit at a later stage.“There is no doubt that stricter emissions regulations for sulphur oxides are here to stay,” said Knut Ørbeck-Nilssen, DNV GL Maritime’s CEO.“This new Scrubber Ready class notation gives shipowners the flexibility to minimize their initial investment when ordering a newbuilding, while at the same time having the confidence that their vessels are already on the track to easy compliance with incoming emissions regulations,” Ørbeck-Nilssen added.“It is very important to have an overview of the design and an understanding of how the system will interact with the engines and auxiliary parts of the machinery system. We also offer scrubber advisory services to support our customers, from building the business case, to risk assessment of the design, installation, commissioning, hardware-in-the-loop testing of the control system, right through to the system entering into operation,” noted Hans Jacob Horgen, the company’s engineer for exhaust gas cleaning rules.This notation can be awarded to ships that have planned and partly prepared for the installation of an exhaust gas cleaning system (EGCS) for the later removal of SOx. As explained by DNV GL, the standard ensures the general type and category of scrubber systems to be installed on vessels.Due to the increasing importance of sustainable shipping, the IMO and the EU are tightening their regulations for ships. With the SOx scrubbing, it is possible to meet new regulations that place a cap on sulfur content of fuel oil at 0.1 percent, resulting in significantly reduced air emissions.
OTTAWA — Bank of Canada governor Stephen Poloz says he doesn’t agree with the OECD that he needs to start raising interest rates by the end of next year.The central banker says that while he respects the view of the Paris-based Organization for Economic Co-operation and Development, different forecasting organizations can use different approaches to predict future economic growth.Poloz says the Bank of Canada’s thinking on the issue is based on its own view of the slack in the Canadian economy and the fact that inflation, at 1.1%, is currently well below where he would like it to be.Last month, Poloz surprised markets by dropping the central bank’s official tightening bias and moved to a more neutral stance, which signals that the bank is as likely to cut as to raise interest rates in the future.Analysts interpreted the move as the bank telling markets it won’t likely start raising borrowing costs until the first or second quarter of 2015.Markets reacted to that assessment by selling off the loonie.The Canadian Press