World News
IMO Behind Global Project to Reduce Shipping's Carbon Footprint
A major international project to support the International Maritime Organization (IMO)'s initial strategy for reducing greenhouse gas (GHG) emissions from shipping has been launched.
The IMO-Norway GreenVoyage-2050 project will initiate and promote global efforts to demonstrate and test technical solutions for reducing GHG emissions from shipping, enhancing knowledge and information sharing to support the IMO GHG reduction strategy, the United Nations body said in a statement.
The collaboration between IMO and the Norwegian government will run for an initial two-year period.
More than 50 countries in 14 sub-regions across the globe are expected to participate, including developed countries and strategic partners from the private sector.
In addition, the project aims to build capacity in developing countries, including small island developing states and least developed countries, to fulfil their commitments to meet climate-change and energy-efficiency goals for international shipping.
Initially, eight countries, from five high-priority regions (Asia, Africa, Caribbean, Latin America and Pacific), are expected to take pilot roles, to pursue and undertake actions at the national level.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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