ICS Opposes Bahamas Market Based Measures
Fuel consumption of two identical ships can vary dramatically ICS is strongly opposed to a proposal from the Bahamas to IMO whereby governments would specify limits on the CO2 emissions of individual ships (as determined by fuel consumption) and which would subsequently be reduced over time.ICS is very concerned that if a ship's CO2 allowance was exceeded during the time period specified, it would have to go off-hire and a second ship chartered as a replacement.The problem is compounded by the reality that the fuel consumption of two identical ships can vary dramatically according to trading patterns and other variables such as weather.The Bahamas' proposal has been made with the apparent intention of being an alternative to other Market Based Measures that have been proposed at IMO, and which will be further considered by the next MEPC meeting.But there is a danger that some might see this as being a superficially attractive alternative to the adoption of an MBM, when it is simply a system of fuel rationing which would be highly damaging to large parts of the industry.Source: ICS
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