THE UK Chamber of Shipping (CoS) has told the global shipping community that it must go further that adopting the IMO technical efficiencies to cut carbon emissions and that an economic (or market-based) system - ultimately a state system of taxation - may be necessary to meet government targets.
"This is a complex international debate for which we need active participation from the shipping industry and governments to find a genuine solution. This must be global - through the IMO - rather than regional," said chamber director general Mark Brownrigg, referring to opposition to the European Union's go-it-alone approach with their own taxation system through a carbon credit trading scheme.
"It is crucial that we do not discount either of the main proposed economic mechanisms for encouraging carbon reductions. The debate lies ahead on which option will provide greater certainty of outcome, ease of application and without damaging the growth of the industry and world trade. That debate must be based on practical considerations rather than conjecture," he said.
International opinion is divided on the best model for reducing the shipping industry's carbon emissions. Some support the idea of a greenhouse gas (GHG) contribution fund, in which shipping companies would contribute as part of purchases of bunker fuel, said Tanker Operator.
More and more doubts arise over the validity of the science and rationale behind global warming claims that underpin demands for such measures. Larger companies can be expected to gain market share from smaller companies who fail to meet the ascending regulatory demands, the basis of which are coming under increasing scrutiny.