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The shipping industry has welcomed the growing momentum for a USD 5 billion R&D Fund for shipping, but is calling on governments to act in line with their climate commitments and not waste more time in moving forward with decisive action to support the decarbonisation of the industry.
Shipmanagers and owners, assisted by legal and insurance experts, are grappling with the complexities of drafting a clause for SHIPMAN that sets out the responsibilities for administering and surrendering emissions allowances under an Emissions Trading Scheme (ETS). Although the clause is being written to work with any ETS, the primary focus is on the EU ETS, which is the world’s largest carbon trading scheme, soon to embrace shipping.
The complexities of maritime decarbonisation are underscored by the industry's multifaceted challenges in reducing greenhouse gas emissions. The European Union (EU) and the International Maritime Organization (IMO) have implemented new rules to address this imperative. The EU and the IMO have set ambitious emission reduction targets for the shipping sector, encouraging the adoption of alternative fuels and energy-efficient technologies. Simultaneously, the IMO’s strategy for reducing GHG Emissions from ships outlines a phased approach towards decarbonisation. These regulations necessitate significant technological and operational changes for shipowners, charterers, and operators. Achieving compliance involves navigating intricate compliance frameworks, especially considering the diverse nature of vessels and trades.
In 2016 the dry bulk shipping sector experienced some of the worst market conditions in history. In response, BIMCO produced a unique analysis model, named "Road to Recovery" to highlight actions needed for the struggling shipping markets to recover - and to track their progress.
Copenhagen, Brussels, London and Washington; November 20, 2020 – The UN International Maritime Organization (IMO) has given initial consideration to an innovative proposal from the global shipping industry to collectively provide USD 5 billion to accelerate R&D to support its decarbonisation.
The Chairpersons of the Round Table of international shipping associations (RT) met in Rome in February to discuss current issues and coordinate efforts going into the new decade, widely billed to become one of the most important in shipping’s history.
Carbon emissions, safety and cyber security were at the top of the agenda at the annual Tripartite Shipbuilding Forum which attracted more than 100 delegates.
BIMCO has submitted two proposals to the International Maritime Organization (IMO) to pave the way for easy exchange of port logistic operational data and allow for real-time updates (notifications) between ship and shore.
The BIMCO Documentary Committee (DC) will be meeting on 18 May – it will be the first physical meeting since the start of the pandemic. Four important projects are up for adoption: ETSA, the CII Compliance Clause, GENCON 22 and the IOCD Clause for Time Charter Parties.
In advance of next week’s critical meeting of the Marine Environment Protection Committee (MEPC 70) at the IMO in London, the global shipping industry has called on IMO Member States to give serious consideration to a joint industry submission regarding the need for further progress on addressing the sector’s CO2 emissions.
