• 2018 April 26 15:19

    50 percent Co2 cut by 2050 – governments must acknowledge enormity of what IMO has agreed - ICS

    Speaking today (26 April) at Singapore Maritime Week, the Chairman of the International Chamber of Shipping (ICS), Esben Poulsson, said the adoption by the UN International Maritime Organization (IMO) of a comprehensive strategy to phase-out shipping’s greenhouse gases “should be more than sufficient to discourage those who mistakenly advocate regional measures which would greatly damage global trade and would not be effective in helping shipping to further reduce its total CO2 emissions.”, ICS said in its press release.

    The ICS Chairman was commenting on the ambitious IMO strategy to cut the total greenhouse gas emissions of shipping by at least 50% by 2050, compared to 2008 – with an agreed efficiency goal, as an average for the sector, for a 40% improvement by 2030 compared to 2008, and a 70% improvement by 2050 – so that the entire sector will be in a position to decarbonise completely, consistent with achieving the 1.5 degree climate change goal identified by the UN.

    “It’s important that governments recognise the enormity of what has been agreed by IMO. While the ultimate goal is zero emissions, a 50% total cut by 2050 is very ambitious indeed, especially when account is taken of current projections for trade growth” said Mr Poulsson.

    “To put this in context, the aviation sector’s regulators have so far only agreed to hold its total CO2 emissions at 2020 levels, with no clear plan for absolute reduction. Moreover, compared to the 50% cut agreed by IMO, the commitments made by governments under the Paris Agreement with respect to the rest of the global economy will not see total CO2 emissions begin to reduce until the 2030s, while shipping’s total current CO2 emissions are already about 8% lower than ten years ago despite a 30% increase in trade demand.”

    Mr Poulsson remarked “The shipping industry deserves great credit for persuading IMO Member States to respond to the Paris Agreement in such an ambitious manner. This includes the detailed proposals which the industry made about what the IMO strategy might look like within weeks of the Paris Agreement being adopted”.

    “The shipping industry, very unfairly, is often criticised for foot-dragging. But this new IMO agreement makes it absolutely clear that shipping is now far and away ahead of the rest of the world economy in the scale of its ambition.”

    ICS is confident that new technology will eventually deliver; whether through the use of fuel cells or batteries powered by renewable energy, new fuels such as hydrogen, or some other solution not yet anticipated.

    “To be clear, while LNG and biofuels will probably form a part of the interim solution, the very high goals IMO has now set for 2050 can only be achieved with the development of zero CO2 propulsion systems” said Mr Poulsson.

    The new IMO strategy includes a list of possible candidate measures to achieve further CO2 reduction while shipping is still dependent on fossils fuels, including additional measures that could be ready for implementation before 2023.

    ICS is already now developing detailed input to IMO on all these proposals. But most controversial is further consideration of applying some kind of Market Based Measure (MBM).

    The position of ICS is that it remains deeply sceptical of MBMs as a means of further incentivising CO2 reduction. Fuel is already by far the largest cost for shipowners and this is expected to increase dramatically as a result of the new mandatory global IMO sulphur cap in 2020.

    “As IMO debates how best to implement its strategy we would much prefer that it concentrates on further technical CO2 reduction measures, not least promoting the development of zero CO2 fuels.” said Mr Poulsson.

    “However, should IMO decide there is a political need to develop an MBM, the clear preference of the global industry would be for a bunker fuel levy payable to some kind of IMO climate fund. If such a levy was developed, the funds should be deployed to support research into new low carbon technologies or to support the roll-out of the expensive new bunkering infrastructure that will be required to supply zero CO2 fuels.”




2018 May 23

17:54 Container Terminal Saint-Petersburg invested RUB 256 million in modernization of its facilities in QI’2018
17:27 Greece suggests arranging cruise lines to Russia
17:00 Rosmorrechflot comes out for replacement of shipbuilding subsidies with cheap financing
16:16 Agreement on Enhancing International Arctic Scientific Cooperation enters into force
15:48 New Belgium container connection bolsters Port of Hull
15:25 DALO chooses SARIS to support SAR operations
15:03 FESCO transports three transformers from Novorossiysk for Moscow central heating and power plants
14:42 Ukraine’s water transport carried 0.3 million passengers in 4M’18, down 3%, Y-o-Y
14:21 Hapag-Lloyd update on restrictions for DG cargo handling at FIFA World Cup in Russia
13:59 Cargo transportation by Ukraine’s water transport fell by 18.5% to 1.0 million tonnes in 4M’18
13:36 SASCO BoD elected Aleksey Pavlov as Director General of the company
13:13 “K” Line announces delivery of special coal carrier “CORONA XANADU”
12:52 Tallink Grupp to list shares also on Helsinki Stock Exchange
12:31 Rosmorport appoints Sergey Lyamtsev as Acting Director of its Azov Basin Branch (photo)
12:13 MPC Container Ships ASA acquires three 2,500 TEU feeder container vessels
11:43 Strong programme raises profile of The Maritime Standard Ship Finance and Trade Conference
11:18 Gunvor forms new ship holding jv СlearOcean Tankers
10:50 Port of Singapore throughput in 4M’18 grew by 1.1% Y-o-Y to 207.78 million tonnes
10:28 Brent Crude futures price down 0.63% to $79.07, Light Sweet Crude – down 0.4% to $71.91
10:09 Diana Shipping announces time charter contract for m/v P. S. Palios with Koch
09:55 Okskaya Sudoverf lays down lead multi-purpose dry cargo carrier of Project RSD32M
09:52 Container shipping is smart to collaborate on standards, says MSC CIO
09:15 Baltic Dry Index up to 1,199 points

2018 May 22

18:37 CMA CGM announces GRR from India and Sri Lanka to West Africa
18:07 Great Lakes Dredge & Dock Company adopts ABS Subchapter M regulatory compliance mobile software
17:47 Container throughput of port Hong Kong (China) down 2.8% to 6.49 million TEUs in Jan-Apr’18
17:33 Suez Canal revenues up to 479.3million dollar in April
17:26 Severnaya Verf starts cutting metal for initial section of longline factory vessel (photo)
17:05 Med Marine signs two new design contracts with Robert Allan
16:28 Okskaya Sudoverf launches second shallow-draft barge of Project ROB20, Belmax 2 (photo)
16:05 Bibby Offshore secures multimillion North Sea contract
15:50 RF Ministry of Justice registers order on designation of caution areas in ports of cities hosting World Cup 2018
15:34 New generation of RoRo’s designed by KNUD E. HANSEN for Grimaldi
15:04 Iridium network approved to provide Global Maritime Distress Safety System (GMDSS) services
14:39 North West MP finds out more about how the Port of Barrow is powering the region
14:10 Rosmorport continues providing icebreaker assistance in the Arctic Basin
13:45 Bunker prices are going up at the Far East ports of Russia (graph)
13:21 Van Oord marks 150th anniversary with christening of SRI vessel Bravenes
12:42 IMO approves joint RF/USA proposal on regulation of shipping in the Bering Strait (photo)
12:23 Wärtsilä LNGPac passes 100th order milestone
12:14 Jotun Australia is formally open for Yacht business with complete yacht coating solutions
11:30 ABS Nautical Systems chosen as exclusive mobile compliance solution for Crosby tugs
11:26 Baltic icebreaking season 2017-2018 ends
11:03 Throughput of port Kavkaz in 4M’18 up 51% Y-o-Y to 11.28 million tonnes
10:48 IMO agrees to recognize that the Iridium network meets all the criteria
10:37 Presidents of Iceland and Finland discussed Arctic matters on board IB Urho
10:12 Brent Crude futures price up 0.28% to $79.44, Light Sweet Crude – up 0.32% to $72.58
09:44 Development and financing of strategic transport projects uniting Lithuania and Poland discussed in Vilnius
09:16 Baltic Dry Index down to 1,239 points

2018 May 21

18:31 P&O Cruises marks first construction milestone for newest ship with steel cutting ceremony in Papenburg
18:00 IMO continues roll out of new port emissions training
17:35 Preliminary preparation stage for concession on Northern Latitudinal Railway completed
17:08 Two more vessels added to Offshore Fleet of Azerbaijan Caspian Shipping Company
16:40 Oceanographic research vessel Admiral Vladimirsky arrives at port of Messina (Sicily)
15:59 Federal funding contributes to critical infrastructure projects to support trade through the Port of Vancouver
15:31 Vympel Shipyard launches 75th Mangust patrol boat for Russian FSB Border Service (photo)
15:00 Marine Recruiting Agency starts implementing a package of educational software for UCL Holding companies
14:29 Average wholesale prices for М-100 HFO up to RUB 6,326 in RF spot market
14:03 'Sulphur cap chaos in 2020' warn world’s shipowners - ICS
13:57 BMT supports installation of Kriegers Flak Foundations