• ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
American ShipperShippingTrade and Compliance

ICS seeks ‘zero CO2 emissions’ for ocean shipping

The International Chamber of Shipping (ICS), which represents shipowners’ associations covering more than 80 percent of the world’s maritime fleet, says the elimination of carbon emissions from oceangoing vessels is achievable by the end of this century.

   The International Chamber of Shipping (ICS), which represents shipowners’ associations covering more than 80 percent of the world’s maritime fleet, says the elimination of carbon emissions from oceangoing vessels is achievable by the end of this century.
   “ICS has a vision of zero CO2 emissions from shipping in the second half of the century,” Simon Bennett, the group’s policy director, said in a statement from the UN Climate Change Conference in Bonn, Germany, this week. “We are confident this will be achievable with alternative fuels and new propulsion technologies.”
   He said to accomplish this goal the shipping industry must continue to support International Maritime Organization (IMO) with developing an ambitious CO2 reduction strategy, as well as embrace renewable energy-based power technologies. Various IMO member states have called for ship emissions reductions in the range of 50 to 70 percent by 2050 and 2060.
   “It will be for governments to agree on the actual reduction number when they adopt an initial IMO strategy next April,” Bennett said. “And this is also going to have to address the legitimate concerns of major economies such as China and India about the implications for future trade and their sustainable development.”
   While still requiring final IMO verification, ICS said current emissions reduction measures undertaken by the maritime industry has reduced the annual CO2 emissions to about 8 percent below the 2008 peak, despite a 30 percent increase in maritime trade. 
   Amendments to the IMO MARPOL Convention, which have already entered into force worldwide, will require from January 2020 all internationally trading ships to use fuel with a sulphur content of 0.5 percent or less (except in Emission Control Areas where they must already use fuel with a sulphur content of 0.1 percent or less).
   “A significant increase in marine fuel costs is expected in 2020 due to the mandatory global switch by the entire world fleet to low sulphur fuels,” Bennett said. “This should greatly incentivize, to the extent this is possible, the further reduction of fuel consumption and CO2 emissions by ships.”

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.

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