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Environmental Regulations Increasing in Maritime Transport Industry

Maersk Line, the largest container shipping company in the world, has recently proposed carbon tax imposition on ship fuels in relation to global carbon reduction efforts.

“The tax needs to be introduced and US$450 per ton of fuel or US$150 per ton of carbon will be appropriate,” Maersk Line CEO Soren Skou remarked recently. This remark is especially meaningful in that the International Maritime Organization will reach an agreement late this month on how to reduce greenhouse gas emissions in the maritime transport industry.

Carbon-related regulations in the industry are scheduled to become effective in January 2023. The goal is to reduce the emissions in the industry by 40 percent by 2030 as compared with the 2008 level.

The Ministry of Oceans and Fisheries of South Korea is urging domestic shipping companies to respond proactively. This is because only 15 percent of national flag carriers are currently satisfying the Energy Efficiency Existing Ship Index (EEXI). Besides, only three out of 134 container carriers are currently meeting the requirements.
Source: Business Korea

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