PREVIEW: China pushes to exclude carbon levy from efforts to reduce shipping emissions
A proposal by China that snubs a carbon pricing mechanism to reduce emissions from the shipping sector in favour of a marine fuel standard is emerging as one of the frontrunner options to be discussed at a key UN meeting next week.
Read MoreUPDATE – Re-routing to avoid Red Sea threat could triple ETS emissions costs for EU-bound ships
Ongoing attacks by Houthi rebels on ships navigating the Red Sea have forced many Europe-bound vessels to divert their routes, which could as much as triple their emissions liabilities under the EU ETS, according to an ESG data provider.
Read MoreICE to launch “mini-EUA” contract to attract wider participation, including from smaller investors
ICE Endex is to launch a new “mini” EU Allowance futures contract in an effort to capture demand from shippers and smaller emitters in the ETS, and possibly even retail investors keen to gain exposure to the carbon market as supply tightens significantly towards 2030.
Read MoreCF ASIA: Global shippers frustrated at hold up in opening EUA accounts to plan for EU ETS costs
International shippers have become exasperated they have only recently been able to open up accounts in order to start purchasing EUAs to meet their compliance obligations under the EU ETS, panellists at Carbon Forward Asia said Thursday, as the sector explores its options to decarbonise.
Read MoreLawmakers greenlight plans to harmonise EU carbon accounting rules for transport
Members of the European Parliament gave the thumbs up Monday evening to draft plans for harmonising the way transport emissions are counted in the EU, with a final agreement with member states not expected until after the June European elections.
Read MoreKorean shipbuilding giant eyes onboard carbon capture systems
One of the world’s largest shipbuilders has built an alliance to develop onboard carbon capture systems (OCCS) as part of its decarbonisation plan, with a pilot project set to be launched next year.
Read MorePREVIEW: Transport carbon accounting rules set for key EU vote
Lawmakers in the European Parliament are voting on Monday a proposal to harmonise the way carbon emissions from transport are counted across the EU, with debates focusing on the choice of methodology and whether to include emissions from international freight.
Read MoreIdle ships at anchor to earn voluntary carbon credits under new Gold Standard methodology
Idle ships at anchor around the globe will be able to earn carbon credits under a new methodology approved by Gold Standard.
Read MoreShips hungry for biofuel to reduce EUA buying with break-even point from next year, say analysts
The break-even point between the cost of biofuels and EUAs for the shipping sector is likely to occur as soon as next year, as purchasing greener alternatives to petroleum products becomes cheaper than the cost of carbon permits, according to market analysts.
Read MoreOil majors join initiative to tackle ‘methane slip’ from fuelled vessels
Two oil and gas majors and a gas shipping company have joined an initiative aimed at improving technologies to measure and mitigate methane emissions from the maritime sector, in an effort to reduce pollution from the use of LNG as a fuel.
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