A global shipping consortium is proposing a levy of $2 per metric ton of bunker fuel for research and development to help eliminate carbon dioxide (CO2) emissions from the industry.
The proposal, which would raise $5 billion over 10 years, will be considered at the next meeting of the International Maritime Organization’s Marine Environment Protection Committee (MEPC). The goal is to accelerate funding for commercially viable zero-carbon shipping by the early 2030s.
The industry is hoping the new International Maritime Research and Development Board will jump-start research that will be useful for ships that enter service in the late 2020s or 2030, and also identify transitional fuels for existing vessels, said Kathy Metcalf, president and chief executive officer of the Chamber of Shipping of America. The CSA is a member of the International Chamber of Shipping, one of the backers of the research program.
This story is from the May 2020 edition of Professional Mariner.
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This story is from the May 2020 edition of Professional Mariner.
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