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Saturday, October 20, 2018

Viable options for the shipping industry to reduce emissions to the air

Abyd Karmali, Managing Director and Global Head of Carbon Emissions at investment bank Merrill Lynch, opened the Lloyds Maritime Academy conference Reducing Emissions to Air from Shipping this week. He talked about the world carbon trade, which has increased worldwide from some USD15bn in 2005 to an estimated USD97bn in 2008.  Analysts forecast the global carbon market for 2008 to grow from 4.2 Giga tonnes (Gt) from 2.7 Gt in 2005.  Some 63% of the global market is EU-based. One of the biggest challenges with regard to starting a shipping Emissions Trading Scheme (ETS) is to set up an administration to look after the scheme. An ETS has to be transparent and it should minimise costs of compliance.


Erik Ranheim made a presentation entitled What are the viable options for the shipping industry? To view click here


He focused on the industry taking a proactive approach to reducing emissions from shipping. Shipping is prepared to go beyond regulations and INTERTANKO is working out Best Practice Guidelines (BPG), he said.  BPG will be a dynamic project with the collection of data and information. INTERTANKO should be seen as adding realistic and experience-based data to the debate, rather than refraining from commenting and thereby allowing these estimates to be viewed as concrete proposals.


INTERTANKO aims to contribute to setting standards for the industry, with a strong role in achieving practical and realistic measures for the industry. By calculating its own data, INTERTANKO can use these figures to reject any exaggerated statistics that manufacturers and service providers may use to sell their products and services.


INTERTANKO has a proven record with regard to Annex VI and to the VOCON methodology, and will continue to take the lead in this area.


Contact: Erik Ranheim