Letter from London: Shipping GHG targets not all plain sailing
The IMO’s ambitious emission goals are still reliant on as-yet unproven technology
The International Maritime Organization (IMO) agreed new mandatory emission reduction policies for ships—including the establishment of vessel rating systems—at its recent Marine Environment Protection Committee (MEPC) meeting. The IMO says the new measures are “short-term” steps in their eventual decarbonisation plans, which target a 50pc cut in shipping’s GHG emissions by 2050 relative to 2008 levels. And along the way, the IMO has committed to reducing carbon intensity—which compares GHG emissions against cargo carried over distance travelled—by 40pc by 2030 and 70pc by 2050. $100/t – Proposed CO₂ fuel oil levy The latest committee meeting also discussed proposals for a mandatory

Also in this section
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken