EMEA News
ICS Proposal Aims to Support Alt Fuels Infrastructure in Developing States
An updated proposal on how shipping decarbonisation might be achieved has been sent to the International Maritime Organisation by global shipowners' body, the International Chamber of Shipping.
The price mechanism proposal has the backing of IMO member states Liberia and the Bahamas and aims to "incentivise the accelerated production and uptake of zero greenhouse gas marine fuels and technologies", according to the organisation.
The Zero Emission Shipping Fund plus feebate system sets a global price on carbon dioxide emitted per tonne of bunker fuel used. Funds accrued into the fund would then go to ships using new marine fuels to stimulate their production.
"The transparent and accountable proposal will include support for the production of zero/near-zero marine fuels and the roll-out of new bunkering infrastructure in developing countries' ports worldwide, as well as supporting training in the safe use of new fuels," the ICS proposal said.
A pricing mechanism to support the emergence of low carbon marine fuels forms part of the economic measures agreed by the IMO at MEPC80 as part of its decarbonisation strategy. The next meeting of the organisation's environment committee will consider proposals.
At a press briefing last week, IMO officials told Ship & Bunker that there were four pricing mechanism proposals on the table in addition to the one from ICS. Proposals will be assessed for their economic impact as well as their alignment with IMO greenhouse gas goals.
