ICS Tells IMF Time Not Ripe for Industry Fuel Charges

Press Release
Wednesday, July 25, 2012

International Chamber of Shipping chairma responds in a letter to International Monetary Fund's fuel-tax proposal

International Chamber of Shipping chairman, Masamichi Mooroka, has written to Christine Lagarde, the Managing Director of the International Monetary Fund (IMF), following her reported comments that fuel charges on shipping and aviation could raise one quarter of the total money to be directed by developed nations to the UNFCCC Green Climate Fund. In the letter ICS challenges several simplistic assumptions apparently made by Ms Lagarde.

The ICS chairman notes that Ms Lagarde has been quoted as saying that "charges on international aviation and maritime emissions would raise about a quarter of the $100 billion needed for climate adaptation and mitigation in developing countries-resources that developed countries have committed to mobilize by 2020".



He continues: “Market Based Measures are very controversial and most shipowners believe, given the severely depressed state of global shipping markets, that now is certainly not the time to impose an additional major cost on international shipping.” 



Nevertheless, Mr Mooroka explains, the position of ICS and its member national shipowners’ associations is that if all governments so decide then shipowners, in principle, will have no objection to contributing, at some point in the future, to the Green Climate Fund, or a similar mechanism that might be established by International Maritime Organization (IMO), provided that such money is indeed used for climate change adaptation or mitigation, and that the same charges apply to all ships internationally regardless of flag. 



However Mr Morooka stresses that shipping’s share of total global emissions (less than 3%) and the forum where the details of such a mechanism should be developed is the IMO.

 

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

Finance

Baltic Index Up for Eighth Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its rise on Friday, for an eighth consecutive session,

Asia-N.Europe Box Rates up 77 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose 77.4 percent to $1,206 per 20-foot container (TEU) in the week ended on Friday,

Euronav Share Buyback

Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) today announces that the Company has purchased 192,415 of its own shares on Euronext Brussels for an aggregate price of EUR 1,

Environmental

Red Funnel Catamaran Powered by MTU Engines

The latest addition to the British Red Funnel ferry fleet, Red Jet 6, completed first sea trials in June 2016 and will go into service in July. The high-speed catamaran

Emission Changing the Smell of the Sea

Chemistry and biological science experts at the University of Hull, say increasing acidification of the world’s oceans has the potential to significantly disrupt the way marine life communicates,

Port Everglades, EPA to Study Air Emissions

Port Everglades has signed a partnership agreement with the U.S. Environmental Protection Agency (EPA) to study air emissions.   The EPA's Office of Transportation

Fuels & Lubes

Milton to Replace Retiring Kelly, President, ExxonMobil

Alan Kelly, president of ExxonMobil Fuels, Lubricants & Specialties Marketing Company, has announced his intention to retire effective Aug. 1, 2016, after more than 34 years of service.

Demand, Bunker Pricing Spurs Asia Dry Bulk-Capesize Rates

Owners asking $1 per tonne more on Australia-China rates; Panamax rates climb to two-month high, but remain under pressure. Freight rates for large capesize

Panama Canal Expansion: Impacts on the Bunker Industry

The total volume of the Panama bunker market has increased in recent years as price levels are becoming increasingly competitive to U.S. bunker hubs like Houston, New Orleans and New York.

People in the News

NORDEN’s Dry Cargo Head Bonderup Resigns

Ejner Bonderup, Executive Vice President and member of the Executive Management in Dampskibsselskabet NORDEN A/S, has resigned from his position to take up a position in another shipping company.

Fincantieri: Silver Muse Launched in Sestri

“Silver Muse”, the new ultra-luxury cruise ship which Fincantieri is building for the shipowner Silversea Cruises, was launched today at Fincantieri’s shipyard in Genoa Sestri Ponente.

ClassNK Sets up Industry's first Digital Archive Center

ClassNK has established ClassNK Archive Center (NKAC), the maritime industry’s first onshore digital archive center that fully complies with IMO Goal-based ship

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Salvage Ship Repair Ship Simulators 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: 0.0872 sec (11 req/sec)