Global carbon price for shipping back on the IMO negotiating table
Countries around the world are back to negotiating a carbon price for international shipping, with hoping to reach final adoption later this year – but they will have to contend with intense pressure to break the current framework apart.
Read MoreUS powers of disruption weakened in upcoming talks on net zero shipping -experts
The US remains a “disruptor” in upcoming UN talks about cutting emissions from shipping, although the oil crisis has helped to sharpen the business case shifting to clean fuels, experts said on Wednesday.
Read MoreTech firms launch world’s first at-sea maritime methane removal pilot
Technology developers have launched a 12-month pilot of a methane removal system aboard a bulk carrier, marking what the companies say is the first deployment of the technology under normal commercial shipping conditions, with ambitions to generate Gold Standard-certified carbon credits from the mitigation.
Read MoreShipping’s carbon costs could outweigh its fuel burden by late 2030s, says report
The cost of complying with climate regulations for European shipping could exceed that of fuel and reach $200-600 per tonne of CO2 by 2035-40, according to an industry body.
Read MoreShip companies urge IMO to ditch carbon pricing framework -media
An open letter signed by almost 30 companies led by Greek shipowner Angelicoussis calls on member states of the International Maritime Organisation (IMO) to pursue alternatives to a global carbon pricing framework for shipping, a trade journal reported.
Read MoreShipping companies avoided extra $4.3 bln in annual taxes by paying half global average rate
Ten of the world’s largest public reporting shipping companies avoided paying $4.3 billion in additional taxes in 2024 due to the sector’s privileged tax regime – enough to cover more than 30% of the annual carbon pricing proposed for the sector, according to a non-profit.
Read MoreShipping and oil majors pilot new model to monetise low-carbon shipping fuel
A shipping giant on Thursday announced a partnership with an oil and gas major to pilot a book-and-claim system that allows emissions reductions from low-carbon marine fuel to be converted into tradable certificates for cargo owners.
Read MoreFEATURE: Effects of Iran war may lead countries to galvanise behind greener shipping framework
Surging fuel prices driven by the Iran war have alerted companies and policymakers to the energy security benefits of greener alternatives, which could help galvanise momentum on a global framework for shipping emissions, according to experts.
Read MoreHormuz closure costing shipping €340 mln per day, sector must accelerate decarbonisation -report
The Hormuz Strait crisis is costing the maritime industry €340 million a day – highlighting the industry’s vulnerability to oil and gas price volatility, according to a new report.
Read MoreEXCLUSIVE: Indonesia first to pilot G20-backed carbon credit data model
The government of Indonesia will pilot a new global framework for standardising carbon credit data as part of efforts to strengthen transparency and interoperability in carbon markets, according to an announcement Friday.
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