EU Council adopts new legislation for maritime transport

The main objective of the FuelEU maritime initiative, as a key part of the EU’s Fit for 55 package, is to increase the demand for and consistent use of renewable and low-carbon fuels and reduce the greenhouse gas emissions from the shipping sector, while ensuring the smooth operation of maritime traffic and avoiding distortions in the internal market.

India and EU to discuss carbon tax issues

India and the European Union have constituted two teams to discuss issues pertaining to the EU’s carbon tax, which will kick in from October 2023. The European Union (EU) is introducing the Carbon Border Adjustment Mechanism (CBAM) from October 1 this year. It would have an impact on seven carbon-intensive sectors, including steel, cement, fertiliser,

EUs CBAM to hit aluminum sector in India

The EU’s implementation of the CBAM, aimed at achieving net-zero emissions by 2050, threatens India’s position as a leading low-cost aluminum producer due to its higher emission intensity compared to European counterparts. Indian aluminum manufacturers are taking steps to address GHG emissions, but CBAM’s implementation and growing capacities in Middle Eastern countries still pose challenges

EU urges IMO to set 2050 as netzero emissions target

The delegation believes that the international shipping sector is moving in the wrong direction when it comes to greenhouse gas emissions which continue to rise, both in absolute and in relative terms, and are close to reaching 3% of all man-generated GHG emissions.

Aluminum exports from India may get impacted by CBAM

According to statistics, India has an annual production capacity of primary aluminum of 4.1 million tons, accounting for 6% of total global production, of which 56% is for export

EU agrees to promote sustainable fuels in shipping

European Parliament (EP), the Council of the European Union, and the European Commission (EC) have reached an agreement on the FuelEU Maritime regulation, with the objective to increase the share of renewable and low-carbon fuels in the fuel mix of maritime transport in the EU. In particular, from 2025, for ships trading in the EU/EEA,

EU to crack down on fuel imports from India

Josep Borrell, the European Union’s foreign policy chief, has said that the bloc will act against the importation of Indian petroleum products that use Russian oil, in rare explicit criticism of India’s role in helping Russia evade Western sanctions amid the war in Ukraine. India has emerged in the past year as a top buyer

India pressing EU for recognition of carbon certificates

India is pressing the European Union for a mutual recognition agreement for its carbon certificates and exempt MSMEs in certain sectors to insulate the domestic industry from the burden of the EU’s carbon tax, which would kick in from October this year. The EU is introducing the Carbon Border Adjustment Mechanism (CBAM) from October 1

EU prohibits vessels attempt to circumvent sanctions

The European Union proposed prohibiting access to its ports for vessels that attempt to circumvent sanctions on Russian oil as it seeks to deter transport of its crude and products below the price caps set by the Group of Seven nations. The measure is part of a broader package of sanctions on Russia following the

India supplies green ships to EU and US

India has now started supplying indigenously built “green ships” to shipbuilding nations like Norway, the US, and Germany, boosting its aim to emerge as a global shipping hub. This move has come through amid a global environmental focus on the entire shipping industry. While vessels are responsible for ferrying the majority of goods all over