Gibson Tanker Market Report

Credits: Tatiana Meel/REUTERS

The Maritime Environmental Protection Committee (MEPC80) took place in London in early July. A variety of different subjects were discussed, and measures adopted, ranging from matters related to the EEDI/EEXI calculations to interim guidelines for the use of biofuels. Yet, the biggest outcome was agreeing upon more ambitious environmental targets. 

Ambitious Target

The initial GHG Strategy was adopted in 2018 and it envisaged a reduction in CO2 emissions of international shipping (per transport work, as an average across international shipping) of at least 40% by 2030, and pursuing efforts towards 70% by 2050, compared to 2008. The same strategy called for total annual GHG emissions to be reduced by at least 50% by 2050 compared to the 2008 baseline. In recent years, however, there has been growing pressure from various industry stakeholders to strengthen these environmental targets to align them more closely with the Paris agreement.

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Source: Xindermarinenews


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