On 7 July 2023, after two weeks of intense negotiations, the member states of the International Maritime Organization (IMO) unanimously adopted the 2023 IMO Greenhouse Gas Strategy. This landmark agreement replaces the 2018 Initial Strategy and signifi…
A new climate deal for shipping: Three decades to zero Read More »
On 18 April 2023, the European Parliament decided that from 2024, the EU ETS would also apply to emissions from shipping. According to the EU regulations, the ‘shipping company’ concerned is responsible for compliance with the EU ETS vis- à-vis the aut…
EU Emissions Trading Scheme (“EU ETS”): Regulatory and contractual perspective Read More »
The international shipping industry is a major greenhouse gas emitter, accounting for about three percent of all greenhouse gas emitted last year. For reference, this is roughly equivalent to the total annual emissions of Germany. Because these emissio…
Can The International Shipping Industry Be Part of the Climate Solution? Read More »
The International Maritime Organization (IMO) rules have had some success in improving public health. Global emissions of sulphur dioxide (SO2) – a health-damaging air pollutant – have dropped by about 10% as a result. But the shift to low-sulphur ship…
How low-sulphur shipping rules are affecting global warming Read More »
Financing for “green” ships is widely available and on better terms, compared to ships using conventional technologies. Following are the main findings of Petrofin Research’s latest annual report on global ship financing trends. The Petrofin Index for …