Americas News
Caribbean Pushes for Coordinated Maritime Decarbonisation Strategy
Caribbean policymakers and financiers have called for stronger regional coordination to advance maritime decarbonisation following an IMO roundtable in Port of Spain, Trinidad and Tobago.
The meeting, held on January 29-30 under the IMO's GreenVoyage2050 programme with the Global MTCC Network, brought together representatives from governments and maritime administrations, the IMO said in a press release last week.
Participants said shipping decarbonisation in the region will depend on coordinated policies, shared knowledge and investment-ready projects rather than isolated initiatives.
Draft recommendations included harmonising national policies, strengthening capacity building and improving access to finance for clean fuels and port infrastructure.
"The IMO GHG Strategy sets a clear global direction, but implementation happens at country and regional level, Dr Jose Matheickal, Director of the IMO's Technical Cooperation and Implementation Division, said.
He said credible project pipelines are needed to allow finance to flow.
Discussions also covered fuel pathways, infrastructure needs and barriers to adoption, with findings from a Jamaica alternative fuels study presented as a regional example.
The second day focused on improving project bankability and mobilising finance for green maritime projects, with development banks outlining financing tools and risk-sharing approaches.
Delegates also visited the ammonia-fuelled vessel Fortescue Green Pioneer during the event.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 485.50 | 4.00 | 672.00 | 2.00 |
| Rotterdam | 452.00 | 1.50 | 688.50 | 6.00 |
| Houston | 465.00 | 7.50 | 664.50 | 7.50 |
| Fujairah | 468.50 | 2.50 | 746.00 | 2.50 |
| Americas Average | 582.50 | 1.00 | 855.00 | 1.00 |
| Global 20 Ports Average | 507.50 | 1.00 | 768.50 | 1.00 |
| Global 4 Ports Average | 467.50 | 0.50 | 693.00 | 0.50 |
| Global Average Bunker Price | 540.50 | 1.00 | 798.50 | 1.00 |
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