Japan has submitted a proposal to the International Maritime Organisation that it would support a carbon tax system to raise more than USD 50 billion a year, reported Financial Times (FT).
In a bold move to decarbonise the maritime industry, it suggested the industry pays USD 56 per tonne of CO2 from 2025 to 2030, which would raise more than USD 50 billion a year on the sector’s almost 1 billion tonnes of emissions.
It also suggested increasing the costs every five years, up to USD 135 per tonne from 2030.
FT quoted a Japanese maritime bureau official close to the matter saying the scheme would collect funds from fossil fuelled ships and return money to help operators of environment-friendly vessels to get back their investment costs.
Japan stands out from other countries such as China, Argentina and Brazil, in its proposal by levying a charge on ships depending on the marine fuel they use rather than ships hitting below a certain benchmark of carbon efficiency.
Singapore VLSFO supply looks tight into February; HSFO380 tight amid pending resupply in Zhoushan; Fujairah recovers after weather disruptions.
With South East Asia’s energy demand forecasted to grow by 50% by 2050, Singapore’s vibrant ecosystem to advance efforts on energy change plays a vital role.
Several samples from Falmouth, which were ordered as ISO-F-DMA grades, tested with flash points below the 60°C SOLAS minimum limit for marine fuel oil.
Partnership announced by the port on 24 May allows BP to re-enter the New Zealand VLSFO market and once again deliver VLSFO to its customers.
Sales of bunker fuel fell as demand was tepid in October amid sluggish demand for transport due to falling international trade activities as a result of COVID-19.
‘Maritec is the only dedicated one-stop-shop capable of meeting all of the maritime industry’s fluid and materials testing, analysis and certification requirements,’ it said.
Cash of SGD 4.43 million and USD 243,100, and one piece of 100-gram gold-coloured bar recovered in safe belonging to Abdul Latif Bin Ibrahim kept at Extra Space warehouse storage facility, show court documents.
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.
