World News
MSC Backs Decarbonisation Research Bunker Levy and Carbon Taxes
Container line MSC has expressed its support both for global carbon taxation for shipping and for a near-term proposal to add a small levy to bunker fuel purchases to fund decarbonisation research.
The company set out its position in a statement on its website on Friday.
"Some form of global market-based-measure, incorporating carbon pricing, could help the industry to decarbonise by reducing the price gap between fossil fuels and zero-carbon fuels as they become available," Soren Toft, CEO of MSC, said in the statement.
"At the same time, despite our huge investments into our fleet and operations, scalable long-term solutions simply do not currently exist for us to deploy on our ships.
"There is a gap in R&D to bring these alternative fuels and technologies to the market and the industry wide research fund will help us achieve the UN IMO's policy targets."
Among the proposals set to be discussed at the upcoming Marine Environment Protection Committee meeting at the IMO is one to impose a $2/mt levy onto bunker purchases to build up a research and development fund for marine decarbonisation technologies. Several shipping industry organisations have backed the proposal.
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 |
Popular Now More
-
Nov 26The new hire previously worked as a bunker trader for IBT Bunkering & Trading in Hamburg. -
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 25The organisation has been focused on developing a standard clause that is workable for most scenarios and commercial relationships, following feedback from industry consultations.