World News
Green Group Backs Global GHG Levy for Shipping
Opportunity Green, a non-governmental organisation that lobbies for the interests of the least-developed states, supports a global levy for shipping to ameliorate the impact of climate change.
The idea of a levy -- starting at $100 pmt of carbon dioxide equivalent emissions --.has been proposed at the International Maritime Organisation (IMO) by the Marshall Islands and Solomon Islands. The measure, if adopted, would, according to the organisation's shipping officer, Ana Laranjeira, raise between $1 trillion to $3.7trn by 2050.
"A measure of this scale would not only generate revenue to accelerate global shipping decarbonisation but do it in a way that supports the sustainable development of the most climate vulnerable nations," Laranjeira said.
She added that adopting a timely market-based measure would address "the price differential between conventional fuels and sustainable alternative fuels, by adequately pricing lifecycle greenhouse gas (GHG) emissions".
Such a move would also "provide predictability to industry, decision-makers, and incentivise early movers". OG's intervention comes ahead of technical talks in London on the IMO's revised GHG strategy on March 20-24.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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