CO2 Reduction for Maritime Industry a "No Brainer," Says ICS

by Ship & Bunker News Team
Wednesday November 20, 2013

The International Chamber of Shipping (ICS) says it told the United National Climate Change Conference in Warsaw this week that reducing ships' emissions of carbon dioxide (CO2 ) is a "no-brainer" for the shipping industry, since it goes hand in hand with keeping fuel costs down.

The organisation said fuel prices have already risen by about 300 percent over the past five years and will increase by another 50 to 100 percent when International Maritime Organisation (IMO) requirements for low-sulfur fuel take effect.

Simon Bennett, the group's director of external relations, said a ship carrying iron ore typically pays about $3 million per year for fuel, and new mega containerships could spend $30 million a year.

"The high cost of fuel means that market forces are already providing shipowners with every incentive they need to continue improving their fuel efficiency and reduce their CO2 emissions," Bennett said.

"Otherwise shipping companies will simply not survive."

Bennett said IMO rules requiring Ship Energy Efficiency Management Plans (SEEMP), along with money-saving measures such as slow steaming and trim adjustments, are already reducing CO2 emissions.

ICS said the shipping industry continues to work with governments at IMO to improve fuel efficiency, including through the development of mandatory monitoring and reporting system.

ICS said last year that the UN should not make the shipping industry a "cash cow" as it seeks to fund efforts to deal with climate change.

Ship & Bunker News Team
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