Shipping industry facing controversial emissions charges
The global shipping industry is facing controversial emissions charges similar to those dogging global airlines as the European Commission draws up harsh new environmental regulations.
Such a move would drive up shipping costs at a time when the industry is struggling to make a profit against the effects of the euro crisis, a downturn in Chinese manufacturing, already high fuel costs and a chronic over-capacity of ships.
Any added cost to the shipping industry automatically increases prices for everything carried by sea, from oil to soya beans and natural gas.
More than 90 per cent of the world’s trade travels by sea, equivalent to 8.5 billion tonnes a year.
At a seminar in Brussels last week, Elina Bardram, the head of the international carbon market unit at the EC said the decision on shipping had been taken because of the inability of the UN’s international maritime organisation (IMO) to provide unique and timely solutions for cutting emissions from ships.
She said the IMO has been unable to agree on measures to curb emissions from ships for more than a decade, so the EU now intended to assume the leading role in creating a more stringent legislative framework.
It expected to unveil in “coming months” a series of measures, which could include bringing shipping into the EC’s emissions trading scheme (ETS).
For more information, click at the source below
Source: The National
