World News
Danish MEP Urges Parliament to Leave Shipping out of ETS
Bendt Bendtsen, a Member of the European Parliament (MEP) from Denmark, is urging parliament to abandon the requirement of shipping in the European Union's (EU's) Emissions Trading System (ETS).
So far, political consensus on the EU's Emissions Trading System (ETS) for the period 2021-2030 has not been reached, despite lengthy negotiations, which Bendtsen says leaves shipping at risk of being subject to unilateral EU regulation, rather than supporting the global process.
"Of course, it is disappointing that an agreement on a new CO2 emissions trading system has not been reached, because it is really necessary that the quota price rises," said Bendtsen.
"At the same time, the lack of consensus in the EU puts the shipping sector in a difficult situation. Especially now where the IMO has launched a global strategy for the sector's emissions."
The latest round of negotiations between the European Parliament and the European Council is currently set for the second week of November.
Last February, MEPs voted in favour of the inclusion of shipping emissions in EU's ETS from 2023 if the International Maritime Organization (IMO) does not have a comparable system operating for global shipping from 2021.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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