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 | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25Government investigating after test results altered 'to make the fuel consumption data look better'. -
Apr 26The company is looking for candidates with bunker trading professional certifications and at least six years of experience in a similar role.