Container Ship Defenulation

The IMO 2023 that is coming into effect not far from now and I think these regulations will definitely affect the supply side of the market. Many non-compliant ships will either be forced to slow steam to lower their emissions or be removed from the service. Slow steaming can also help in cutting your fuel costs so I think carriers are likely to adopt this as a move ahead. If they continue for any longer they could actually you know trigger decarbonization and scrappings at much higher rate than expected. We see fleets becoming younger and greener quicker than estimated but we currently have at this point in the conversation it's still early days.