A meeting by the IMO’s council two weeks ago (July 4-7) concluded that the IMO will henceforth abandon the practice of reassessing conventions at the end of each month, which was introduced in January this year.
Monthly calculations were brought in after it was suggested that Indonesia’s ratification of the BWM Convention may have pushed the tonnage over the required 35% mark.
The reported ratification figure still sits at 34.87%, the figure reported on the 10th June – and not yet having been recalculated using end-June data.
It has been speculated that Finland’s ratification, expected to add 0.14%, would be enough to push the ratification figure over the line. However, if the total ratification figure has fluctuated and dropped to 34.85% or less at the time when Finland’s percentage is added to the total, then it is the new, re-calculated total which will constitute the base figure to which Finland’s percentage is added.