ICS Points to Shipping's Economic Challenges at OECD Meeting

Press Release
Tuesday, June 04, 2013

The International Chamber of Shipping (ICS) explained the serious economic challenges presently confronting shipping to 50 transport ministers.

ICS explained its position on the financing of sustainable maritime transport at this year’s Organisation for Economic Co-operation and Development (OECD) International Transport Forum in Leipzig.

Speaking on behalf of ICS, Stena CEO Carl-Johan Hagman said: “In the current economic climate the shipping industry has to work in close contact with shipping’s global regulators, especially the IMO, and make them fully aware of the implications of their actions.”

He added that protecting the environment is of great importance but pointed out the need for a balance between the measures taken do this and their economic impact.

Mr Hagman told the closed meeting: “Distillate fuels currently cost around fifty per cent more than residual fuel and the difference between the two fuels is expected to increase as the use of distillate becomes mandatory. Without significant extra production of distillate fuels, how should ship operators manage these extra fuel costs?”

Questioning how ship operators will manage the additional costs associated with eco-measures, Mr Hagman said the increases “threaten to rise so high that they may have a dramatic impact on world trade or force cargo back onto roads or to other less carbon-efficient modes of transport.”

He cautioned: “If governments and regulators are serious about the concept of sustainable shipping, then we must give serious consideration to these cost-benefit questions.”
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory

CMA CGM to use Kingston As Transshipment Hub

French shipping giant CMA CGM plans to use Kingston Container Terminal,  Jamaica as a strategic Caribbean transshipment hub for an enlarged Panama Canal. The Port connects to US East Coast,

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

Environmental

MISC Publishes its 2015 Sustainability Report

MISC Berhad (MISC) today announces the publication of its 2015 Sustainability Report, covering the Company’s commitment, strategy and performance for the year ended

Admiral of the Ocean Sea Award Recipients Named

The United Seamen's Service (USS) 2016 Admiral of the Ocean Sea Awards (AOTOS) will be presented to Arthur E. Imperatore, Founder and President of New York Waterways; Donald Marcus,

Orca Energy ESS to Power Fish Farm Support Vessel

Grovfjord Mek. Verksted AS (GMV) has selected Corvus Energy as the supplier of the lithium ion based energy storage system (ESS) for a fish farm support vessel called GMV ZERO.

Government Update

Traffic Separation Schemes off Western Australia

On 1 December 2016 two new Traffic Separation Schemes (TSS) will come into effect off the south-west coast of Western Australia. Australia’s proposal to establish

Austal Delivers LCS 8 to US Navy

Austal Limited (Austal) (ASX:ASB) delivered the future USS Montgomery (LCS 8) to the U.S. Navy, during a ceremony held aboard the ship at Austal USA’s shipyard in Mobile, Alabama, USA on 23 June.

Berthing Policy for Dry Bulk Cargo for Indian Ports Unveiled

Ministry of Shipping has formulated a new Berthing Policy for Dry Bulk Cargo for all Major Ports which will come into effect from 20th August, 2016. The objective

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1197 sec (8 req/sec)