04JUN2019 - NEWS - Regulatory Uncertainty to Become the Norm for Shipowners in the Years to Come

Shipping is undergoing colossal changes moving forward, as the goals set by the latest IMO meetings are about to pose significant challenges and alter the way that the industry is operating. The additional problem is that there isn’t a clear view on the regulatory framework, under which the sector will be operating, thus making any investment decision a risk. In its latest weekly report, shipbroker Gibson said that “many industries, including shipping, are facing an increasing environmental pressure to act upon the Paris Agreement. In April last year, the IMO’s Marine Environmental Protection Committee (MEPC) set out their initial strategy, which envisages the reduction of greenhouse gas (GHG) emissions by at least 50% by 2050 compared to 2008 levels. The ambition also is to reduce CO2 emissions (which account for about 82% of all GHG emissions) by at least 40% by 2030, pursuing efforts towards 70% by 2050 from the 2008 baseline”.

Published by Editor - www.Livebunkers.com at 04-Jun-2019 03:33:46 [UTC] , contact editor at editor@livebunkers.com