World News
IMO Approves Decarbonisation Short-Term Measures
The IMO's Marine Environment Protection Committee (MEPC) has approved draft measures aimed at cutting the shipping industry's greenhouse gas emissions in the short term, the UN body said Tuesday.
The measures include requirements on energy efficiency for existing ships from 2023 and formal carbon intensity targets from 2026.
After today's decision, the measures will still need to be adopted at the next MEPC meeting in 2021.
Environmental groups have criticised the measures, drawn up at last month's meeting of the IMO's working group on greenhouse gas emissions, as a compromise that is out of kilter with the Paris Agreement.
Some delegations at the IMO this week argued that while the level of ambition set was disappointing, failing to agree on any short-term measures would be worse.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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