BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





ICS to propose IMO adopts 'aspirational' CO2 reduction objectives

16 May 2017 09:28 GMT

Association to suggest objectives are adopted as part of IMO's CO2 reduction strategy, to be agreed in 2018.



The International Chamber of Shipping (ICS) has agreed to urge the International Maritime Organization (IMO) to adopt new CO2 reduction objectives in order to match the ambition of the Paris Agreement on climate change.

In a submission to IMO member states, being made in conjunction with other shipping organisations, ICS says it will propose that IMO adopts three 'aspirational objectives':

- To maintain international shipping's annual total CO2 emissions below 2008 levels;

- To reduce CO2 emissions per tonne-km, as an average across international shipping, by at least 50 percent by 2050, compared to 2008; and

- To reduce international shipping's total annual CO2 emissions by an agreed percentage by 2050, compared to 2008, as a point on a continuing trajectory of CO2 emissions reduction.

Speaking at the ICS's AGM in Istanbul, chairman Esben Poulsson commented: "It is very important that IMO sends a clear and unambiguous signal to the global community that shipping's regulators have agreed some ambitious objectives, with numbers and dates, for reducing the sector's CO2 emissions, in the same way that land-based activity is now covered by government commitments under the Paris Agreement."

ICS says it wants IMO to remain in control of additional measures to address CO2 reduction by ships and to develop a global solution, rather than risk the danger of "market-distorting measures" at national or regional level.

"Shipping has a very good story to tell about reducing CO2 but this is difficult to convey so long as there is no clear signal from IMO as to what our collective CO2 reduction objectives should be," noted Poulsson.

ICS will suggest that IMO adopts these objectives as part of the initial IMO CO2 reduction strategy, to be agreed in 2018, following the adoption of an IMO Roadmap at the request of the industry in 2016.

ICS emphasizes, however, acknowledging concerns of developing nations about the possible impacts of CO2 reduction for trade and sustainable development, that any objectives adopted by IMO must not imply any commitment to place a binding cap on the sector's total CO2 emissions or on the CO2 emissions of individual ships.

"Dramatic CO2 reductions alongside increasing trade can only be achieved with the development of alternative fossil-free fuels - something which needs to be identified by the IMO strategy," Poulsson emphasized.

"The long-term future of the industry, like the rest of the world economy, must eventually be fossil fuel-free. The trajectory for getting there, not least the development of alternative fuels, could well take us several decades. But this will only be achieved if the industry itself pushes for the adoption by IMO of some [suitably] ambitious objectives so that all concerned are under no illusion about the scale of the task ahead."




Related Links:

CO2 cuts hard to achieve without alternative fuels: ICS
ECSA calls for global agreement on emissions reduction
Global fuel consumption levy 'the clear preference of the majority of the industry': ICS Director
Global sulphur cap set for 2020
United Kingdom

Latest News:

Rosmorport in talks with bunker firms over running LNG supply operation: source
September has turned out to be a bullish month... so far
Shell bunker tanker delivers LNG cargo to Klaipeda reloading station
Oil and fuel oil hedging market update
Vane Line Bunkering faces lawsuit over barge captain who suffered stroke
Brent price remains in the mid-fifties
Wartsila launches tug designs with hybrid propulsion
Oil and fuel oil hedging market update
Corvus: Understanding how high energy density is key to economical energy storage systems
ES Group says it will retain bunker vessel after charterer 'defaulted' on contract
Adventure superyacht with 'exceptional fuel efficiency' unveiled
Oil and fuel oil hedging market update




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio
Rotterdam
Santos
Singapore
Directory
Africa
Asia
Central America
Middle East
North America
North Europe
Oceania
South America
South Europe
Directory
Germany
Gibraltar
Greece
Hong Kong
Italy
Japan
Netherlands
Panama
Russia
Singapore
South Africa
South Korea
Spain
Turkey
United Arab Emirates
United Kingdom
United States
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Events
Upcoming Events