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Back in May we discussed the IMO’s plan to reduce CO2 emissions by 40% by 2030 and GHG emissions by 50% by 2050 (compared to 2008 levels). The weekly tanker market report by Gibson Shipbrokers.
BIMCO has submitted a proposal to the International Maritime Organization (IMO) to regulate propulsion power of ships in order to sustain the GHG savings already achieved through slower steaming.
You won’t find many – if any – who disagree that the higher the speed of a ship, the higher the level of greenhouse gas emissions. So why would I argue that, while imposing speed limits may have a popular ring to it, it is not the answer as the industry seeks to cut emissions? After all, our mission is to do exactly that: cut emissions.
Many industries, including shipping, are facing an increasing environmental pressure to act upon the Paris Agreement. In April last year, the IMO’s Marine Environmental Protection Committee (MEPC) set out their initial strategy, which envisages the reduction of greenhouse gas (GHG) emissions by at least 50% by 2050 compared to 2008 levels. The ambition also is to reduce CO2 emissions (which account for about 82% of all GHG emissions) by at least 40% by 2030, pursuing efforts towards 70% by 2050 from the 2008 baseline. The weekly tanker market report by Gibson Shipbrokers.
BIMCO has proposed that the Fourth International Maritime Organization (IMO) Greenhouse Gas Study does not include unrealistically high gross domestic product (GDP) growth projections to predict future transport demand - and thereby emissions - of the shipping industry. The proposal has been made to the expert workshop preparing for the study, which is meeting in London 12-14 March.
BIMCO applauds the landmark announcement by Maersk of its ambition to reach carbon neutrality by 2050.
BIMCO is encouraging shipowners to authorise their respective flag state administrations or recognised organisations to report their Energy Efficiency Design Index (EEDI) values for all applicable new ships in their fleet to the The International Maritime Organization (IMO).
The shipping industry is on the verge of major changes requiring strong collaboration between ship builders, ship owners and classification societies, agreed the 70 plus participants of the 2018 Tripartite Forum held in Seoul, South Korea on 11 and 12 October.
The International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC 72) will meet next week, where a prohibition on the carriage of non-compliant fuel oil with a sulphur content exceeding 0.50% is on the agenda.
