Although it is hard to predict what next years will bring for shipping, discussions at this year’s IMO’s MEPC brought in the spotlight a unified effort towards a more sustainable industry. IMO MEPC 72, which took place during the first week of April 2018, agreed on a target to cut shipping’s overall CO2 by adopting an ‘initial strategy’ as a first step.
Cargill plans to reduce shipping emissions 15% by 2020, in an attempt to comply with new regulations which mandate the reduction of pollution. For this reason, the company demanded from some of its food manufacturer customers to conduct more environmentally-friendly operations.
Members of the European Parliament and other stakeholders have been briefed about the Initial IMO Strategy on Reduction of GHG emissions from ships, which was adopted in April. Moreover, the measures that may be taken to implement the initial strategy, including possible short term measures, were described.
The International Chamber of Shipping fears chaos and confusion unless the IMO resolves some serious issues concerning the successful implementation of the 2020 sulphur cap in marine fuel, which is scheduled to come into effect on 1 January 2020. This could affect the movement of the world’s energy.
Esben Poulsson, Chairman of the International Chamber of Shipping , called the shipping industry to increase its pace in order to comply with the 2020 sulphur cap, as he said that “Time is Fast Running Out.” The IMO global sulphur cap for marine fuel is expected to increase bunker prices increase significantly.
In April 2018, the IMO MEPC 72 re-confirmed that the sulphur cap will definitely go ahead in 2020 as scheduled, despite continuing questions as to whether sufficient quantities of compliant fuel will be available in every port worldwide. Ahead of this development, ICS describes the pressing issues that need to be addressed before the regulation comes into force.
On Friday 4 of May, the United Nations Secretary-General António Guterres visited the Headquarters of the IMO. Mr. Guterres highlighted the important contribution of IMO’s work towards achieving the United Nations Sustainable Development Goals. He also welcomed the recent adoption by IMO of an Initial Strategy to reduce GHG emissions from ships.
In light of the recent IMO decision to reduce shipping emissions by at least 50%, compared to the levels 2008, many are saying that this development will drive many investors and operators in the maritime sector to immediately invest in more sustainable business models. Managing Director of Lagos Deep Offshore Logistic Base, Dr. Amy Jadesimi said that carbon pricing can trigger international shipping to go forward with decarbonisation.
States meeting at the IMO MEPC 72 last month made no progress on agreeing a roadmap to devise the measures needed to implement immediate emissions cuts, said the sustainable group Transport & Environment, noting “it is now up to Europe and its climate allies to get things moving”.
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