Letter from London: Shipowners propose carbon levy
Trade association the ICS is trying to take the initiative and steer the industry’s decarbonisation on its own course
The International Chamber of Shipping (ICS)—a trade association representing ship owners and operators and more than 80pc of the global merchant fleet—has made its own proposal for a levy on carbon emissions from ships in response to plans by the International Maritime Organization (IMO) and European Commission. The ICS submitted its “comprehensive” plans to the IMO, which envision "an internationally accepted market-based measure to accelerate the uptake and deployment of zero-carbon fuels.” The group proposes a levy based on mandatory contributions for each ton of CO₂ emitted from “ships trading globally” and with a gross tonnage in excess of 5,000t. "[Our proposial is] an i

Also in this section
26 June 2025
ExxonMobil and Eni offer hope for projects as sector looks to get to grips with cost overruns and delays
26 June 2025
While oil prices will determine the trajectory of the key US shale patch, regulation and technological shifts are also likely to shape direction longer term
26 June 2025
Last year was one of records for renewables but also for oil, gas and coal, as the energy transition progresses in an increasingly uneven way, according to the Energy Institute’s latest annual report
25 June 2025
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years