Shipping execs advocate for carbon levies

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Published: November 7, 2019

SINGAPORE, (Reuters) — Executives at some of the world’s top shipping groups are advocating a levy on carbon emissions on shipping in an effort to shape tightening rules on greenhouse gas emissions while providing a means to fund development of cleaner fuel sources.

“To meet international shipping’s decarbonization challenge, the maritime industry needs a carbon levy, it is coming, and we should shape it,” said Andreas Sohmen-Pao, chair of BW Group at the Global Maritime Forum in Singapore last week.

The comments followed closed working group discussions on the need for a levy on carbon emissions from shipping operations with other executives from other companies including Cargill Ocean Transportation, Euronav, Angelicoussis Group, Torvald Klaveness Group, Norwegian bank DNB and mining giant BHP.

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