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Carbon pricing 'key' to shipping emission decarbonisation

COLLABORATION between stakeholders is needed if the shipping industry is to meet decarbonisation targets set by the UN's International Maritime Organisation (IMO), reports Colchester's Seatrade Maritime News

09 September 2020 - 19:00

COLLABORATION between stakeholders is needed if the shipping industry is to meet decarbonisation targets set by the UN's International Maritime Organisation (IMO), reports Colchester's Seatrade Maritime News.

This was the main message from a webinar yesterday, Trade Evolution and Partnership: Impact on Decarbonisation, organised by classification society ABS.



Cargill Ocean Transportation's George Wells, head of assets and structuring, stressed that charterers have a vital role to play.



Mr Wells said that Cargill, a prominent member of various shipping sustainability initiatives, already supports shipowners from whom it charters tonnage in their energy-saving and carbon-reducing measures but much more engagement is necessary,



Carbon pricing will be necessary, he said. A major barrier to the adoption of new technologies and future new fuels is cost. Low- and zero-carbon fuels must make economic sense, he insisted.



Webinar moderator Lindsey Keeble, with London law firm Watson Farley & Williams, cited sources of green finance, but warned that the full range of shipping must join in before financing would be available.


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