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Shipping Industry Pushes for Market-Based Measures to Help Achieve Decarbonization Targets – gCaptain

Share this article Several of the world’s major shipping organizations are calling on world leaders to urgently examine the role of so-called market-based measures (MBMs) to ensure ambitious decarbonization targets are met across the entire global shipping industry. The call comes ahead of President Biden’s Leaders’ Summit on Climate (set for April 22-23), seen as a vital precursor to COP26 and the IMO’s Marine Environment Protection Committee (MEPC). Shipping bodies including BIMCO, Cruise Lines International Association, International Chamber of Shipping, World Shipping Council, along with other industry groups, have submitted a proposal to the International Maritime Organization (IMO) calling for the UN’s maritime regulatory body to bring forward discussions around MBMs by several years. These measures will be critical to incentives the transition of the global fleet to new fuels and technologies, which will be more expensive than those in use today, according to the

Support Grows for Shipping s $5 Billion Decarbonization Proposal – gCaptain

Support is growing for a proposed $5 billion research fund to help decarbonize shipping. The World Shipping Council, one of the proposal’s original non-governmental co-sponsors, reports that Denmark has now joined the effort as a co-sponsor, joining Georgia, Greece, Japan, Liberia, Malta, Nigeria, Palau, Singapore, and Switzerland in backing the plan submitted to the UN’s International Maritime Organization on March 10. The plan proposes the establishment of an International Maritime Research and Development Board (IMRB), an IMO-supervised and industry financed $5 billion program to fast-track research and development of zero-carbon technologies within the global shipping industry. The IMRB would be funded through a “International Maritime Research Fund (IMRF)” of a mandatory $2 per metric of marine fuel consumed by every ship.

Will the pandemic open new doors? | Hellenic Shipping News Worldwide

Will the pandemic open new doors? If our industry can adapt and innovate like we have done throughout COVID-19, imagine what we can do to accelerate decarbonisation efforts if we apply the right thinking and the right resources, says David Loosley, BIMCO Secretary General & CEO. The COVID-19 pandemic has shut down offices, ports, schools, and society. As the second wave hits many parts of the world, it may be tempting for governments and corporates to turn focus inwards, and deal with national or corporate matters, as opposed to fixing those on the horizon and common goals. In our own industry, we need to remind ourselves daily that our focus must remain firmly on the long-term goal of decarbonisation, while continuously fight for the urgent issues such as the rights of crew to perform crew changes, despite the pandemic and the challenges it brings.

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