World News
MEPC 84 Unlikely to Deliver Full Clarity, but Could Signal Regulatory Direction: LR
The IMO is holding its 84th Marine Environment Protection Committee (MEPC 84) meeting in London this week, with talks focused on reviving a Net-Zero Framework (NZF) that failed adoption last year.
MEPC 84 is unlikely to deliver complete clarity on future global rules, but it could provide a clearer indication of how regulation may evolve, Lloyd’s Register (LR) said in a statement on its website on Monday.
The classification society said uncertainty over the shape of future GHG measures is now a material commercial risk, particularly given that ships ordered today will operate for decades.
Ships ordered today will trade for several decades, meaning investment decisions are being made without a fully defined regulatory framework.
Without a clear global framework, LR warned that a fragmented system of regional regulation could emerge, creating compliance and operational challenges for shipowners.
It added that regulatory ambition must be matched with safe and practical implementation as alternative fuels and new technologies scale up, supported by robust standards and credible assurance.
LR said MEPC 84 should be seen as a staging point, with decisions taken now expected to shape shipping regulation through the 2030s and beyond.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
Popular Now More
-
Oct 23Rotterdam's bunker sales recovered slightly in Q3 from the previous quarter, but volumes remained well below year-earlier levels. -
Oct 23The acquisition includes eight bunkering vessels and a long-term lease for 28,000 m3 of tank capacity in Turkey. -
Oct 21Trading Director Maaz Ahmed tells Ship & Bunker that the firm plans to deploy more bunker barges in the future.