World News
Kitack Lim on GHG Regulations: 'We Must Be Brave'
IMO Secretary General Kitack Lim has urged the UN body's member states to make progress on marine decarbonisation regulations at a key committee meeting this week.
The 78th session of the IMO's Marine Environment Protection Committee is being held this week, with discussions on GHG reduction measures the most important item on the agenda for the future of the shipping industry.
At stake are the IMO's discussions on mid-term GHG reduction measures, which could include global carbon pricing being imposed on marine fuel sales to encourage the shift to zero-carbon fuels.
"Your discussions this week will chart the way forward for the decarbonization of international shipping," Lim said at the opening of the meeting.
"It is therefore of utmost importance that IMO continues to deliver concrete progress in transitioning international shipping from fossil fuels to low and zero-carbon alternatives.
"It is our duty to join worldwide commitments of increased ambition towards tackling climate change.
"I appreciate the commitment and the efforts of all Member States and the industry for the outstanding work and achievements we have made so far.
"Now we must be brave and let our industry lead by example and provide substantial progress in our work."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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