Australia, Singapore allot $13 mln for eight low-emissions maritime projects
Australia and Singapore announced Wednesday a A$20-million ($12.6 mln) initiative to reduce maritime sector emissions by selecting eight projects for funding to boost green shipping technologies.
Read MoreUK pushes for global IMO shipping levy, confirms maritime sector to join ETS from 2026
The UK government is pushing for the quick adoption of a global levy on shipping emissions after announcing on Tuesday that domestic maritime emissions will be cut by at least 30% by 2030 and 80% by 2040, with the sector coming into the ETS from next year.
Read MoreLargest shipping companies avoid taxes that could raise billions for climate -report
The world’s 10 largest shipping companies raised record profits of around $300 billion in the last five years, but paid less than half the average corporation tax rate, according to a new report by a non-profit, which highlights the impact a potential global levy could have on climate.
Read MoreLDC expands carbon project portfolio in decarbonisation push
Commodity merchant Louis Dreyfus Company (LDC) has broadened its carbon project portfolio as part of a growing push to decarbonise its operations and supply chains, according to its 2024 Integrated Report.
Read MoreGlobal shipping stakeholders not expecting major breakthroughs at IMO’s April meeting
An upcoming meeting at the UN’s International Maritime Organization’s (IMO) is expected to yield small incremental gains rather than a finalised set of policies, said several industry stakeholders.
Read MoreEU sees “no significant evidence” of evasion from maritime ETS, despite rising costs
A European Commission report taking stock of the extension of the EU’s Emissions Trading Scheme (ETS) to the maritime sector has detected “no significant evidence” of evasion or circumvention, despite an average 3.7% increase in overall shipping costs caused by the bloc’s carbon pricing scheme.
Read MoreIMO takes first steps towards digitalisation of global shipping
The International Maritime Organization (IMO) has taken the first steps towards a global strategy for digitalisation, building on the use of emerging technologies to spearhead efficiency, safety, and sustainability in shipping.
Read MoreVC firm launches $100-mln maritime tech fund
A Singapore-based venture capital firm has launched a $100-million maritime tech fund, the largest for the sector to date.
Read MoreBiomass key to meeting shipping sector emission targets -report
A new report published Thursday outlined the potential for biofuels derived from biomass to significantly contribute to the international maritime industry’s decarbonisation efforts.
Read MoreBipartisan US lawmakers propose renewable fuel bill for ocean vessels
A bipartisan bill that would allow companies to generate and retain Renewable Identification Number (RIN) credits for biofuels used in marine shipping was introduced in Congress Thursday.
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