World News
Don't Discard LNG and Biofuels in IMO's Net Zero Framework: ABS Chief
LNG and biofuels are "mission critical" to shipping's decarbonisation and must not be "overlooked, over penalised or discarded" in the IMO's Net Zero Framework, Christopher J. Wiernicki A, chairman and CEO of ABS, said.
Wiernicki cautioned that "shipping and the IMO are on different trajectories," with no clear pathway for scalable green fuels or supporting infrastructure.
"Quite frankly, achieving net zero for shipping by 2050 looks like a wildcard," he said during the Launching the 2025 ABS Sustainability Outlook, Beyond the Horizon: Vision Meets Reality during London International Shipping Week.
"The industry needs a framework, but we need one that marries ambition with reality," Wiernicki added.
"Right now, we are not where we need to be. Emissions remain 121 per cent above the 2008 baseline, compliance costs are compounding, and the signals shaping investment – regulation, fuel pricing, penalties, availability, scalability – are moving at different speeds.
"The IMO needs to take a timeout. We need to get this right."
Wiernicki sees LNG, supported by methane-slip controls and pathways to bio- and e-LNG, as the key bridge approaching the 2030s, extending the runway through energy efficiency and onboard carbon capture before the endgame of nuclear and zero-carbon fuels at scale.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 481.50 | 4.50 | 672.50 | 1.00 |
| Rotterdam | 460.50 | 7.50 | 671.50 | 1.50 |
| Houston | 485.50 | 2.50 | 679.00 | 6.50 |
| Fujairah | 480.00 | 4.50 | 728.00 | 5.00 |
| Global 20 Ports Average | 516.50 | 0.00 | 760.00 | 1.50 |
| Global 4 Ports Average | 477.00 | 1.00 | 688.00 | 3.00 |
| Global Average Bunker Price | 558.00 | 0.50 | 801.50 | 2.00 |
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