« Insights & News

ECSA backs MEPC to deliver 'ambitious' CO2 reduction strategy

European governments could be driving force to help push through agreement, ECSA says.

Image credit: Pixabay CC0 Public Domain

Updated on 10 Apr 2018 00:13 GMT

The European Community Shipowners' Associations (ECSA) said on Monday that the region's shipowners "strongly believe" that IMO's environmental committee, MEPC, can agree on an "ambitious" CO2 reduction strategy by the end of this week, building on the results of the meeting of the intersessional working group of last week.

Additionally, ECSA suggested that European governments could the driving force that helps to push through an agreement that "strikes the right balance" between member states.

The ECSA also argued that a deal based on the "ambitious" European approach - which involves taking into account concerns of developing countries and nations threatened by rising sea levels - is both "possible and necessary".

Commenting on negotiations this week, the Belgium-headquartered organization commented: "Realising that governments have to take and give during the negotiations, which will not be easy and requires courage to do, ECSA is confident that ultimately all governments will realise that a deal has to be made."

"If an initial strategy is agreed upon, this will give a clear and much wanted signal to the shipping industry and all other organisations in the maritime cluster to move full speed ahead to a fully decarbonised shipping industry as soon as possible," ECSA added.

Discussing the measures that would need to be taken to reach its preferred goals, ECSA stressed that alternative low carbon or carbon-free fuels, alternative propulsion systems and operational measures would be "absolutely necessary".

Additionally, ECSA said public funding would be needed for research and development, and government measures could be taken to speed up developments - such as supporting first movers and adapting or introducing legislation to accommodate new concepts.

In order to prevent mistakes from occurring, ECSA noted that other CO2 emission reduction measures should be introduced and implemented after an extensive assessment has first been carried out.

Singapore posts lowest H1 bunker sales since 2015 despite 14.5% jump in ship arrivals

YoY bunker calls decline over 12 successive months.

Med ECA approved; zero 2050 target gains traction

SOx ECA set for adoption at MEPC 79; NGOs demand stricter measures despite growing support for zero GHGs by 2050.

Gasum commits to making biogas from ship wastewater

Finnish firm to work with ports and treatment plants to process wastewater and biowaste.

Sing Fuels acquires Prime's Bunkersplus Services

'First step' in plan to create global alliance of independent brokerage and trading partners.

GoodFuels and Itochu sign APAC biofuel accord

Tie-up to focus initially on Singapore, then scale up supply to the wider Asia-Pacific region.

Bunker Holding launches five-year plan

Company to focus on advisory role and building 'center of expertise', plus new ESG strategy, departments, staff hires and products.

Delta Energy launches carbon credit desk for bunkers and cargoes

New trading desk aims to support growing ESG demands of owners and cargo charterers.

MOL's annual bunker price jumps 65%

Average price rose by $230 in the fiscal year to March 31.

Gasum secures LNG licence for Belgium

Licence, obtained in March, includes the key port of Zeebrugge.

Glencore, PetroChina named as contaminated fuel suppliers

Singapore fuel said to have contained 15,000 ppm of chlorinated organic compounds.