World News
MEPC Approves Next steps to Deliver IMO GHG Strategy
The 73rd session of the International Maritime Organization’s Marine Environment Protection Committee (MEPC 73) Monday approved a programme of actions to deliver the initial strategy on reducing greenhouse gas emissions from ships.
The now approved the follow-up programme will be used as a planning tool in meeting the timelines identified in the initial IMO strategy, which was adopted at MEPC72 in April 2018.
The headline pledge is to reduce total GHG emissions from international shipping at least 50% by 2050 compared to 2008 levels, while, at the same time, pursuing efforts towards phasing them out entirely.
But the initial strategy also refers to a range of candidate short-, mid- and long term measures that will be considered by IMO.
Short-term measures could be finalized and agreed between 2018 and 2023; mid-term measures, between 2023 and 2030; and long-term measures, beyond 2030.
IMO Secretary-General Kitack Lim said the programme of follow up actions "sets a clear signal on how to further progress the matter of reduction of GHG emissions from ships up to 2023."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 623.50 | 1.00 | 726.50 | 0.50 |
| Rotterdam | 566.00 | 3.50 | 737.00 | 2.50 |
| Houston | 585.00 | 8.00 | 750.00 | 12.50 |
| Fujairah | 628.00 | 1.00 | 881.00 | 2.00 |
| Global 20 Ports Average | 636.00 | 3.50 | 815.50 | 4.50 |
| Global 4 Ports Average | 600.50 | 3.50 | 773.50 | 4.50 |
| Global Average Bunker Price | 690.00 | 1.50 | 876.50 | 5.00 |
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