The world’s third biggest maker of a key piece of ship environmental equipment has had its official accreditation withdrawn by the South Korean government.
The Ministry of Oceans and Fisheries has cancelled the type approval for two variants of Panasia’s GloEn ballast water treatment system, throwing the market into confusion.
The decision presents owners of more than 1,100 ships fitted with the equipment with the risk of remedial work or retrofits costing in total up to KRW 100bn ($85m), according to reports.
