Connect with us

Business

World Shipping Council calls on EU to step forward for global shipping decarbonisation

‘Advancing fuel-technology pathways in global shipping requires the shared commitment and cooperation of industry, governments and international regulators,’ says President & CEO.
Admin

Published

5 years ago

on

WSC

The World Shipping Council (WSC) on Wednesday (3 November) released a statement encouraging the EU towards the goal of the shipping industry’s global decarbonisation.

Inclusion of shipping in the EU ETS will encourage shipping’s journey towards decarbonisation, but EU action threatens to undermine broader international progress if the ETS extends outside of the EU, says World Shipping Council (WSC). 

“The EU can lead global climate action, but it can’t succeed alone. Advancing fuel-technology pathways in global shipping requires the shared commitment and cooperation of industry, governments and international regulators, says John Butler, President & CEO. 

“Through the ETS, the EU has a unique opportunity to strengthen, motivate and complement global policy for reducing greenhouse gas emission in international shipping.” 

WSC supports inclusion of the maritime sector in the EC’s proposed regional market-based approach, including both vessel owners and operators as responsible entities. As detailed in the WSC EU ETS position paper, this design can reduce regional shipping greenhouse gas emissions by about 42% and accelerate emission reductions among non-maritime sectors as well. 

However, an intra-EU scope rather than the extra-regional one proposed by the Commission, would increase the EU’s influence on the global stage. It would provide a decisive EU example about the need to introduce a carbon price for shipping without complicating that pathway for others by overlapping with their trade. An intra-EU scope would:

  • Strengthen economic incentives for climate action and minimize the potential for carbon leakages that would undermine EU Green Deal goals. 
  • Position the EU as frontrunners with the ability to drive global policy through the IMO to reduce shipping’s greenhouse gas emissions internationally. 
  • Enhance Member State competitiveness internationally.
  • Maintain coherence with the necessary supply side requirements for production and distribution of low-carbon marine fuels proposed in the Renewable Energy Directive (RED) and Alternative Fuels Infrastructure Directive (AFIR).

“If the EU goes ahead with an ETS that reaches outside its borders, it runs a serious risk of alienating non-EU countries and making it more difficult to establish global market-based measures at the IMO. Why not instead take this opportunity to both achieve the Green Deal goals and drive faster international progress through strong European leadership?” asks John Butler. 

WSC member companies represent over 90% of global liner shipping industry container and roll-on roll-off carriers. 

Liner shipping is committed to working with the EU Institutions to achieve the Green Deal’s goals through good policy that will help achieve industry GHG reduction targets and move as fast as possible to zero emissions from international shipping.

Note: Read the full EU ETS position paper here.

 

Photo credit: Kristijan Arsov from Unsplash
Published: 5 November, 2021

Related Topics:
Continue Reading

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Admin

Published

11 hours ago

on

July 21, 2026

By

RESIZED Sora Shimazaki on Pexels

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July). 

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions. 

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Continue Reading

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Admin

Published

11 hours ago

on

July 21, 2026

By

RESIZED Drew Beamer

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

  • That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

  • that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
  • that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
  • that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

Continue Reading

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Admin

Published

11 hours ago

on

July 21, 2026

By

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

Continue Reading

Trending