The IMO will consider its own HFO levy later this year
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
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
6 August 2025
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
