- Baltic Exchange and partners held a seminar in Shanghai on maritime emissions regulations.
- Focus on implications of goal-based regulations and new trading elements.
- Compliance solutions include investment in data, software tools, and consistent emissions baselines.
In mid-July, the Baltic Exchange, in collaboration with the Shanghai OTC Commodity Derivatives Association (SOCDA), China Economic Information Service Shanghai Branch, MCS Group, and Bank of Ningbo, held an exclusive seminar in Shanghai. The event focused on the maritime sector’s evolving emissions regulations and how shipping and trading companies can strategize their businesses to adhere to carbon mechanisms, reports Baltic Exchange.
Carbon regulations
The seminar opened with a welcome speech from Jin Yu Cheong, Head of Baltic Exchange Asia. Martin Crawford-Brunt, Emissions Lead from Baltic Exchange, provided detailed insights on maritime emissions regulations. The main focus was on the changing nature of shipping emissions regulations and the implications of more goal-based regulations and new trading elements. As carbon regulations become increasingly complex, the discussion centered on market response, how existing fleets will face mounting pressure to comply with EU and IMO regulations, and the accountability for adhering to these regulations.
The seminar offered several solutions to aid with cost and compliance, including investment in maritime data and software tools and the importance of maintaining consistent emissions baselines.
The Baltic Exchange offers several tools to help the shipping industry adhere to emissions regulations. This includes the Baltic Exchange’s Emissions Calculators, which utilize indicative CO2 emission reference points for the Baltic dry and tanker routes based on standard vessel descriptions. These tools help owners take practical steps to minimize their carbon footprint.
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Source: Baltic Exchange
