Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 60

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 4
Chunk 60
---
POL were adopted by the MEPC in October 2016, as subsequently further amended. Beginning on January 1, 2019(now) Regulation 27 of chapter 4 of Annex VI added a requirement for ships of 5,000 gross tons and above to collect consumption data for each type of fuel oil used as well as other specified data. The collection method should be set out in the SEEMP and this information must have been submitted to the flag state no later than March 31, 2020. The flag state in turn must submit data to an IMO Ship Fuel Oil Consumption Database (IMO DCS). Other regulations were amended to cater to this new requirement, including those related to certificates, surveys and port state control. Amendments to Appendix IX of Annex VI, due to enter into force on 1 August 2025, will add to data reporting requirements under IMO DCS, including: fuel oil consumption while the ship is not under way by fuel oil type, and installation of any innovative technology, which changes are also reflected in the 2024 Guidelines for the development of a SEEMP (as concerns Part II, relating to the ship's Fuel Oil Consumptions Data-Collection Plan).

The MEPC also adopted amendments to Annex VI setting the global limit for sulfur content of ships’ fuel oil to 0.50% mass by mass (“m/m”) as opposed to the former global limit of 3.5% m/m. The new sulfur limit entered into effect on January 1, 2020. From March 1, 2020, ships were not permitted to transport fuels containing more than 0.50% m/m sulfur content for use on board, regardless of whether a ship is operating outside a designated ECA, unless the ship has an approved exhaust cleaning system ("EGCS") or “scrubber” fitted (see also discussion of IMO Emission Control Areas below). This impacts on the rates to be achieved (eg scrubber premium) for vessels, as vessels that are scrubber fitted may be able to achieve higher charter rates. It is not expected that compliance with such regulations will have a material effect on the operation or financial viability of our business. Amendments to Annex VI of MARPOL came into force on April 1, 2022, changing the required procedure in Regulation 14 for sampling and verification of the sulfur content of in-use and on-board fuel oil and installation of on board sampling point or points for in-use fuel. There are other jurisdictions which regulate the sulphur content of fuel used