World News
INTERCARGO Urges Practical Climate Rules as IMO Talks Enter Crucial Phase
The International Association of Dry Cargo Shipowners (INTERCARGO) has reinforced its call for clear, practical, and implementable regulations as the IMO prepares for key discussions in coming weeks.
With the ISWG-GHG-19 and MEPC 83 meetings approaching, INTERCARGO is urging policymakers to ensure that upcoming decisions on decarbonisation remain simple, predictable, and feasible for the shipping sector, it said in an emailed statement on Thursday.
The dry bulk sector, which accounts for 43% of the global shipping tonnage and transports over 55% of global trade, relies on flexibility and efficiency in its operations.
INTERCARGO warns that overly complex regulatory mechanisms could lead to unintended consequences, including higher costs, regulatory uncertainty, and disruptions to global supply chains, without delivering meaningful emissions reductions.
The association is calling for a transparent and globally consistent approach to carbon pricing, ensuring that shipowners receive clear cost signals to support long-term investment decisions.
It also emphasizes the importance of realistic implementation timelines, warning that rushed policies could lead to inefficiencies and increased compliance risks.
"The upcoming ISWG-GHG-19 and MEPC 83 meetings represent a pivotal moment for global shipping decarbonization, Kostas Gkonis, Secretary General of INTERCARGO, said.
"We fully support ambitious environmental goals, but the measures adopted must be practical and implementable also for tramp and bulk shipping, which is the largest shipping sector.
"As negotiations intensify, we urge Member States to focus on solutions that will deliver real emissions reductions without compromising operational efficiency and the smooth global transportation of essential goods."
IMO members are expected to finalise mid-term measures for GHG reduction at the MEPC 83 meeting scheduled for April 7-11.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 501.50 | 4.50 | 609.00 | 5.50 |
| Rotterdam | 465.50 | 12.50 | 613.00 | 2.00 |
| Houston | 474.00 | 1.50 | 637.50 | 8.00 |
| Fujairah | 498.50 | 4.50 | 725.50 | 9.00 |
| Global 20 Ports Average | 529.50 | 6.00 | 717.00 | 3.00 |
| Global 4 Ports Average | 485.00 | 5.00 | 646.00 | 2.00 |
| Global Average Bunker Price | 568.00 | 4.50 | 754.50 | 7.00 |
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