Turkey to implement its own emissions trading scheme

Shipowners looking to Europe’s eastern edge to skirt around new environmental regulations will have to look elsewhere. Turkish politicians are pressing ahead with their own emissions trading scheme (ETS) for shipping which will align largely with the European Union’s own recently introduced ETS. The policy now awaits ratification from the country’s president. Turkish ports –

First biomethanol ship build by Chinese company aims to set sail soon

The first biomethanol container ship built by a Chinese company is set to depart from Shanghai for Rotterdam in the second quarter, as the industry moves toward cleaner fuels following a new European Union rule requiring large shippers submit emission certificates. Built by Shanghai Waigaoqiao Shipbuilding, the 16,100-tonne Eco Maestro is the first of 14

BIMCO adopts four ETS clauses

The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU). To support the industry, shipping organisation BIMCO has developed a portfolio of new emission trading scheme (ETS) clauses. BIMCO’s documentary committee adopted a new emission trading scheme allowances clause for BIMCO’s ship management agreement,

Industry warns over ports call evasion of EU ETS

The European Tugowners Association (ETA) has called on the European Commission to prevent cargo diversion from EU ports and carbon leakage which could possibly occur due to the Emissions Trading System (ETS) introduction. ETA said that there was a risk of cargo diversion due to ETS inclusion in shipping which is coming into force next

Class society Bureau Veritas invests in OrbitMI

French class society Bureau Veritas (BV) has become an investor in US-based maritime software company OrbitMI. The collaboration will leverage combined strengths to address the dual opportunities of the digital transformation and the decarbonisation of shipping. Neither firm disclosed the size of the investment but reports have emerged that BV will receive a seat on

EU Council adopts green fuel requirements for shipping

The new EU law to decarbonise the maritime sector has cleared its final adoption stage, putting an end to two years of intense negotiations.

CEEW suggests emissions trade for India

According to the Delhi-based think tank Council on Energy, Environment and Water (CEEW) India should create a carbon emissions trading scheme (ETS) similar to what the European Union or South Korea have set up. The CEEW recommended a cap-and-trade mechanism for greenhouse gas emissions that can be made applicable to various sectors in order to

WSC responds shipping’s inclusion in EU carbon market

The World Shipping Council (WSC), representing the international liner shipping industry, has issued a response to the preliminary agreement by the European Parliament, Council and Commission to include the maritime sector in the EU Emissions Trading System (EU ETS). The agreement also sets in motion the next steps for the EU to make the ETS

Global fossil fuel use to skyrocket before falling

A new climate study by BloombergNEF (BNEF) shows that there might be hope for reparative action, even though it might take slightly longer. The 2022 BNEF New Energy Outlook report assesses how the energy systems of nine critical countries that make up 63% of global emissions will likely progress in two scenarios in the coming

EU agrees preliminary ETS deal for shipping

EU institutions have hammered out a preliminary agreement to include shipping within the scope of the emissions trading system (ETS). Under the deal struck late Tuesday evening, all ships of 5,000 gt and over within the EU will be required to pay for 100% of their emissions, while 50% of the emissions on voyages between