As the IMO reviews its Net-Zero Framework, the Wall Street Journal’s Editorial Board opposes the proposal, labeling it “taxation without representation.” The framework could generate $10-12 billion annually from shipping carbon fees, potentially raising global shipping costs and impacting consumers, all while undermining democratic oversight and accountability.
A collaboration between GTT, Bloom Energy, and Ponant Explorations Group aims to develop the first net-zero cruise ship, integrating fuel cells with marine carbon capture technology. The project seeks to create an energy-efficient vessel that meets onboard consumption needs while significantly reducing greenhouse gas emissions, with plans for operation by 2030.
The International Maritime Organization has launched a key four-day session in London, seeking to finalize binding global regulations for cutting shipping industry emissions. Delegates are debating the IMO’s Net-Zero Framework, aiming for major emission reductions by 2030 and 2040, while balancing environmental urgency with economic impacts and industry concerns.
The International Maritime Organization (IMO) is grappling with a deep divide over its Net-Zero Framework, which proposes a global fuel standard and emissions pricing for ships. Supporters view it as essential for decarbonization, while opponents, including the U.S., criticize it as a “global carbon tax,” raising concerns about economic impacts.
The International Maritime Organization (IMO) plans to implement its Net-Zero Framework in 2027, pending 2025 adoption. This framework introduces a two-tier compliance system and differential pricing for “remedial units,” requiring collaboration between shipowners and charterers. It aims to reshape decision-making in the maritime industry amid existing regulatory concerns.
The IMO Net-zero Framework, established at MEPC 83, is a revolutionary initiative for the shipping industry. It includes emissions limits, GHG pricing, a new fuel standard, and a global pricing mechanism. Despite challenges, industry leaders recognize its importance for decarbonization efforts. Stakeholders have expressed mixed views on the framework.
Lloyd’s Register’s Global Maritime Trends 2025 Barometer highlights the challenges facing the global shipping industry in achieving net-zero and digital transformation goals. Fragmented regulation hinders decarbonization progress and limits investment. Without global regulatory support, the industry may fall short of its ambitions. The report emphasizes the need for coordinated regulation and workforce development for successful transitions.
The International Chamber of Shipping (ICS) and 47 governments are pushing for net zero greenhouse gas emissions from international shipping by 2050. They have proposed a maritime GHG emissions pricing mechanism to the UN IMO. Major shipping nations and the EU support this initiative to drive a rapid energy transition in shipping.
Following Stories compiled in this News Digest for the week from 20 Jun 2022 to 26 Jun 2022 in descending…
Following Stories compiled in this News Digest for the week from 10 Jan 2022 to 16 Jan 2022 in descending…
