World News
Swire Shipping Backs Carbon Tax, Sets 2050 Net Zero Target
China Navigation subsidiary Swire Shipping has backed calls for a global carbon tax on shipping at the IMO and set itself a target of cutting its emissions to net zero by 2050 at the latest.
The company supports the Marshall Islands IMO proposal -- to be discussed at the Marine Environment Protection Committee later this month -- to impose a global greenhouse gas emission levy on the shipping industry, it said in a statement on its website on Tuesday.
The company will also seek to reduce its emissions to net zero 'by, and preferably well before' 2050, it said. It plans to offer emission offsets to its customers, and ultimately move towards running its fleet on alternative fuels.
The company is also financing a project to build a sail-assisted inter-island cargo vessel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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