The International Transport Federation (ITF) has pointed out that an absolute emission reduction target can be set for the shipping sector, but it would be “impossible” to set such a target for nations, The Hindu Business Line reports.
Global shipping firms will have to shell out about $400,000 annually for each ship they own, if ITF’s proposal to introduce a carbon tax on ships is accepted.
Olaf Merk, author of an ITF policy paper, said: “As some sort of very rough average, the $25-per-tonne of CO2 tax would imply additional costs of $400,000 per year per ship (domestic shipping not included), considering that the global fleet is around 50,000 ships and carbon emissions from international shipping around 800 million tonnes.”
In an emailed interaction with BusinessLine, he said carbon tax is “linked to fuel use” in a move that will incentivise ship owners to make their ships “more fuel efficient”. They could practise slow steaming (operating transoceanic cargo ships at significantly less than their maximum speed) to consume less fuel.
The International Transport Forum (ITF) has issued a policy brief to argue that IMO should impose a carbon tax for shipping and to call for immediate action to halve shipping emissions by 2050.
ICS has commented on these proposals by saying ”that shipping should not be treated like an OECD economy”
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