World News
Shipping Nations Unprepared for Tougher IMO Net Zero Rules: UCL
No major maritime nation is fully prepared for the tighter decarbonisation rules now being negotiated under the IMO’s Net Zero Framework, as per new research from UCL Shipping and Oceans Research Group.
The study finds that national policies are not fully aligned with the IMO’s 2023 greenhouse gas strategy, leaving even advanced shipping economies exposed as regulation tightens, UCL said in an emailed report on Thursday.
The US, China and the UK are seen as relatively well-positioned due to stronger progress on green fuels.
But Singapore, Japan, South Korea and the EU, despite their technical strength, face a higher risk due to significant LNG reliance, which could become a disadvantage under stricter emissions rules.
India is highlighted as a potential beneficiary of the transition. With limited LNG lock-in and growing industrial capacity, it could capitalise under a clear global framework.
The report also warns that weaker or fragmented IMO outcomes could prolong investment in transitional fuels, increasing long-term costs and slowing the shift to zero-emission shipping.
“It is clear from this analysis that although IMO’s Revised Strategy was unanimously adopted, countries are at different points in their journey to convert that outcome into national policy,” Tristan Smith, Professor of Energy and Transport at UCL, said.
UCL researchers say better alignment between national policy and IMO goals, along with access to finance, will be key to keeping the transition on track.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 1004.50 | 72.00 | 1777.00 | 30.00 |
| Rotterdam | 784.00 | 20.00 | 1193.00 | 14.00 |
| Houston | 806.50 | 28.50 | 1240.50 | 28.50 |
| Fujairah | 1032.00 | 28.50 | 1642.50 | 9.00 |
| Global 20 Ports Average | 1014.00 | 3.00 | 1510.00 | 16.50 |
| Global 4 Ports Average | 907.00 | 12.50 | 1463.50 | 1.00 |
| Global Average Bunker Price | 1012.00 | 3.00 | 1464.50 | 19.00 |
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