Increase in environmental regulations in the shipping industry
Maersk Line, the world’s largest container shipping company, recently proposed imposing a carbon tax on ship fuels as part of global efforts to reduce carbon emissions.
“The tax must be introduced and US $ 450 per tonne of fuel or US $ 150 per tonne of carbon will be appropriate,” Soren Skou, CEO of Maersk Line recently said. This remark is particularly significant as the International Maritime Organization will reach an agreement at the end of the month on how to reduce greenhouse gas emissions in the shipping industry.
Carbon-related regulations in industry are expected to come into force in January 2023. The goal is to reduce emissions in industry by 40% by 2030 from 2008 levels.
South Korea’s Ministry of Oceans and Fisheries is urging national shipping lines to respond proactively. Indeed, only 15% of national carriers currently meet the Energy Efficiency Index for Existing Ships (EEXI). In addition, only three of the 134 container ships currently meet the requirements.