The international fishmeal trade is preparing for a potential breakthrough in shipping regulations. The International Maritime Organization (IMO) has reportedly approved a proposal to reclassify fishmeal as a non-hazardous cargo under updated global rules. While the decision is not yet officially in force, industry sources suggest it could be formally adopted soon.
If confirmed, the change would mark a significant shift for exporters and importers for certain routes. Transit to Asis has small room to make discounts, but for other countries, and for other services as couriers, would be important. Fishmeal has long been classified as hazardous, which added costs and complexities to its transportation. Removing this label is expected to reduce freight charges, simplify documentation, and ease trade flows.
The International Fishmeal and Fish Oil Organization (IFFO) has welcomed the development, noting that the measure would boost global competitiveness. Market participants are now awaiting the final confirmation from the IMO, which could provide long-awaited relief for the industry.