25th Coaltrans AsiaMULTIMODAL 2019TBA GroupCleveland Cascades LtdBühler GmbHSailors Society
  • MULTIMODAL 2019
  • Indonesia Coal Mining 2019
  • Port of Belledune
  • Marine Fuels 360 China
  • Vigan
  • 25th Coaltrans Asia

Governments must acknowledge enormity of historic IMO agreement

Governments must acknowledge enormity of historic IMO agreement

(Posted on 26/04/18)

Speaking today 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.”  
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.”

Latest News

Golden Ocean eyes dramatic turnaround

(Posted on 19/08/19)

Golden Ocean Group Limited, the John Fredriksen-owned dry bulk shipping company, has announced its results... Read more


NORDEN signs long-term contracts

(Posted on 19/08/19)

NORDEN has contracted with Enviva to transport 1.3-1.5 million metric tons of wood pellets from the... Read more


IRClass forges training partnership

(Posted on 19/08/19)

Leading classification society, the Indian Register of Shipping (IRClass), recently launched a bespoke... Read more


GTMaritime adds Asia-Pacific expertise

(Posted on 19/08/19)

Leading maritime software specialist GTMaritime has appointed satellite connectivity expert Keng Teen... Read more


Frank Tsao dies at 94

(Posted on 14/08/19)

Frank Tsao Wen-king, founder of International Maritime Carriers (IMC), has died peacefully with family... Read more


Wallem to deliver swifter agency services

(Posted on 13/08/19)

Wallem Group is introducing collaborative inboxes to its agency business line, in a move designed to... Read more


HFO with scrubbers best option claim

(Posted on 13/08/19)

Members of the Clean Shipping Alliance 2020 have welcomed a new addition to the canon of scientific... Read more


Polsteam’s latest bulker delivered

(Posted on 08/08/19)

Polska Zegluga Morska (Polsteam) has taken delivery of the bulk carrier M/V "Karlino" from the Chinese... Read more


COSCO strengthen cooperation with MacGregor

(Posted on 08/08/19)

MacGregor, part of Cargotec, has signed a framework purchasing agreement with COSCO Shipping to support... Read more


ClassNK works for zero emission fuels

(Posted on 08/08/19)

Leading Classification Society ClassNK is participating in the “Cross-industrial Working Group... Read more


ViganPort of Belledune5th Biennial LNG BunkeringTOC EventsMarine Fuels 360 ChinaIndonesia Coal Mining 2019
  • TMS Awards 2019
  • Sailors Society
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping