World News
US Threatens Increased Tariffs if IMO 2028 Framework is Adopted: Report
The US government is reportedly considering imposing tariffs and other measures on countries supporting the IMO 2028 framework on decarbonisation.
The Trump administration is considering using tariffs, visa restrictions and port levies as a means of encouraging opposition to the deal, news agency Reuters reported, citing US and European sources.
The US delegation did not attend April's IMO meeting that approved the framework, and in August the Trump administration announced its opposition to it and threatened retaliation.
The IMO 2028 deal sets two tiers of GHG intensity thresholds for global shipping from 2028, with the thresholds being lowered every year to 2035 and those not meeting them being required to purchase 'remedial units' to cover their excess emissions.
The deal faces another vote at an extraordinary meeting of the Marine Environment Protection Committee at the IMO next month.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 487.50 | 3.50 | 688.00 | 10.50 |
| Rotterdam | 454.50 | 1.00 | 683.50 | 11.00 |
| Houston | 486.00 | 3.00 | 688.00 | 2.50 |
| Fujairah | 487.50 | 6.00 | 735.00 | 6.50 |
| Global 20 Ports Average | 518.00 | 3.50 | 768.50 | 5.50 |
| Global 4 Ports Average | 479.00 | 3.50 | 698.50 | 7.50 |
| Global Average Bunker Price | 551.50 | 2.00 | 803.00 | 2.50 |
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