Fichte and Co Legal, the UAE’s leading law firm, participated in the 2023 edition of The International Fujairah Bunkering & Fuel Oil Forum (FUJCON 2023) held under the Patronage of His Highness Sheikh Hamad bin Mohammed Al Sharqi, Member of the UAE Supreme Council and Ruler of Fujairah. Organised by S&P Global Commodity Insights, the three-day event that was hosted by the Department of Industry & Economy, the Government of Fujairah, and the Port of Fujairah.
On day three of the event, Jasmin Fichte, Managing Partner, Fichte & Co., moderated the ‘Regulatory & Legal Challenges Facing the Industry’ session that underlined topics of global significance including green corridor shipping, establishing maritime navigation – data collection, general international roles to align with policy in the maritime, global carbon tax or State vs IMO Regulations and compliance issues. Cem Saral, CEO, Cockett Group; Alex Jamet, General Counsel, Peninsula and Unni Einemo, Director & IMO Representative, IBIA were part of the panel.
Creating a stable regulatory environment
Jasmin Fichte said: “As a leading law firm, we understand the need for a robust and dynamic regulatory framework to create a sustainable and integrated maritime economy. With constant developments and emerging challenges within the sector, it is also integral to ensure that laws and legalities concerning the environment, maritime operations and compliance must be altered in accordance with the directions of the IMO. Currently, the sector is faced with several obstacles some of which are increasing container shipping costs, limited capacities, high demand for data insights, and the need to escalate investments in technology. Then, we also have issues relating to environmental protection such as the debates on the carbon tax on shipping emissions and the creation of green corridors between major port hubs where zero-emission solutions are supported. While all these concerns are pressing, the industry is working tirelessly to devise practical solutions for them, legal and operational. The implementation and legal framework for matters of such consequence, will without doubt be challenging yet worthy, significantly impacting this integral sector and the environment.”
Fichte adds: “To expedite our collective efforts and overcome the roadblocks as an industry, it is imperative to exchange knowledge and experiences. Such dialogue on an interactive platform such as FUJCON is ideal to gain industry insights. I am glad that I got the opportunity to moderate this panel that featured some of the best in the industry and tackled critical topics that can in many ways transform the industry.”
Under the theme ‘The Maritime Energy Transition & Future Fuels’, this year, FUJCON explored the energy transition and carbon reduction requirements, possible technologies, investments, delivery infrastructure, and industry collaboration needed to uncover new green maritime solutions and achieve sustainability goals. It also examined Fujairah’s future fuel options from the supply, operational, environmental, and economic perspectives.
Source: Hellenic Shipping News
