BRIEFING: Definition of ‘offshore ships’ in EU ETS draws criticism from industry, NGOs

Published 10:59 on November 4, 2024  /  Last updated at 14:00 on November 4, 2024  / /  EMEA, EU ETS, Shipping

The shipping industry as well as environmental NGOs have criticised the European Commission’s definition of offshore ships to be included in the EU ETS from next year, saying it will lead to confusion, market distortion, and unaccounted emissions.

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EU fishing policy limits on vessel weight and power are no hindrance to low-carbon transition -report

Published 14:16 on October 29, 2024  /  Last updated at 15:29 on October 29, 2024  / /  EMEA, Shipping

Limits on vessel weight and power under the EU’s Common Fisheries Policy (CFP) pose no obstacle to transitioning the EU fishing fleet to energy-efficient and low-carbon propulsion technologies, according to a new report by a non-profit.

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US onboard shipping CCS developer closes $9.5 mln additional funding

Published 22:46 on October 22, 2024  /  Last updated at 22:46 on October 22, 2024  / /  Americas, International, Shipping, US, Voluntary

A California-headquartered developer of modular onboard carbon capture and storage (CCS) for the shipping sector has raised $9.5 million in new funding, according to a Tuesday press release.

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South Korean shipbuilder teams up with industry body to decarbonise shipping

Published 08:53 on October 22, 2024  /  Last updated at 08:53 on October 22, 2024  / /  Asia Pacific, Shipping, South Korea

One of the largest shipbuilders in South Korea has teamed up with a clean shipping industry body to work on solutions that can decarbonise the sector, particularly ammonia and onboard carbon capture systems.

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Groups urge UK govt to ensure strong shipping emissions coverage in ETS

Published 10:11 on October 17, 2024  /  Last updated at 10:12 on October 17, 2024  / /  EMEA, International, Shipping, UK ETS

A cohort of economists, think tanks, and non-profits have called for all domestic emissions and half of international emissions to be included in the UK ETS as the government continues to mull reforms to the country’s compliance carbon market.

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EU clarifies next emissions monitoring regulation for offshore ships

Published 17:10 on October 16, 2024  /  Last updated at 17:10 on October 16, 2024  / /  EMEA, EU ETS, International, Shipping

The European Commission has clarified its rules for extending its monitoring, reporting, and verification system to greenhouse gas emissions from offshore vessels, slightly broadening the list of ships considered to be offshore.

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Under-prepared shipping companies may face hefty fines under FuelEU -consultancy

Published 15:47 on October 14, 2024  /  Last updated at 15:47 on October 14, 2024  / /  EMEA, International, Shipping

European shipping companies are not ready for the upcoming FuelEU Maritime regulation and could face significant fines, according to an independent shipping emissions analytics company.

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LNG ship building outpaces gas demand, not compliant even with most conservative climate scenario, report says

Published 13:18 on October 14, 2024  /  Last updated at 13:18 on October 14, 2024  / /  Asia Pacific, Australia, International, Shipping, South Korea

The ‘golden age’ of gas and the expanding trade in LNG has led to a glut of carriers being built that is incompatible with even the most conservative climate outlook from the International Energy Agency, a think tank said Monday.

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Shipping carbon tax could broadside African economies, report warns

Published 01:03 on October 12, 2024  /  Last updated at 01:03 on October 12, 2024  /  Africa, Carbon Taxes, International, Shipping

A shipping carbon tax being floated by the International Maritime Organization (IMO) could have disproportionate economic impacts on African countries, a new report warns.

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Global tax on aviation, shipping could raise $200 bln annually by 2035 -IMF

Published 15:07 on October 9, 2024  /  Last updated at 15:07 on October 9, 2024  / /  Americas, Asia Pacific, Aviation/CORSIA, Carbon Taxes, EMEA, International, Shipping

International transportation, especially aviation and shipping, must be “urgently taxed” as that would raise up to $200 billion a year in revenues by 2035, potentially tripling current global climate finance, a paper released by the International Monetary Fund (IMF) has found.

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