• 2019 February 19 09:40

    BIMCO demands 4th IMO GHG Study based on realistic economic growth

    BIMCO says it has proposed that the Fourth International Maritime Organization (IMO) Greenhouse Gas Study does not include unrealistically high gross domestic product (GDP) growth projections to predict future transport demand - and thereby emissions - of the shipping industry. The proposal has been made to the expert workshop preparing for the study, which is meeting in London 12-14 March.

    “It is imperative that the industry – and the world – base discussions and actions to reduce emissions from shipping on credible and realistic projections. If not, we risk making the wrong decisions and spending resources ineffectively,” says Lars Robert Pedersen, BIMCO Deputy Secretary General. 

    BIMCO argues that the Fourth IMO GHG Study should avoid scenarios 1 and 5 of the International Panel on Climate Change (IPCC) Shared Socio-economic Pathways (SSP), as these scenarios project considerably higher and unrealistic short- to mid-term economic growth (as much as two percentage points higher) than current economic trends and OECD (Organisation for Economic Cooperation and Development) projections. It should be noted that only the lowest of the five SSPs (scenario 3) has compounded growth in line with current OECD projections. 

    “The previous study’s most pessimistic projection of a 250% increase in CO2 emissions from shipping has since proven to be totally unrealistic, given the actual and projected economic development of the world. Unfortunately, the 250% projection has frequently been used as a stick against the shipping industry and to shape regional policy. BIMCO wants to avoid that happening again,” Pedersen says. 

    BIMCO has collaborated with CE Delft, the consultancy that modeled and calculated the Third IMO GHG Study’s projections in 2014 for future GHG emissions from ships. The revised calculation includes the most recent OECD GDP projections.

    The report highlights, that when using a more realistic GDP growth scenario, the shipping industry is projected to achieve an absolute reduction of 20% versus the target of an absolute emission reduction of 50% by 2050 compared to 2008. 

    “We will need new solutions, in addition to traditional efficiency measures, to reach the 2050 target. But to pick the right solutions, we need realistic projections,” Pedersen says. 

    Lower transport work projections have recently been supported by two other studies: “Energy Transition Outlook 2018: Maritime Forecast to 2050” by DNV-GL and “Transport 2040 - Automation, Technology and Employment – The Future of Work” by the World Maritime University. 

    Both studies have decoupled the correlation between the growth in GDP and transport demand after 2030, and both studies arrive at projections well below the BIMCO/CE Delft recalculation of the Third GHG Study. BIMCO also suggests that the IMO expert workshop take the decoupling of GDP growth and transport work into consideration.




2020 February 23

15:01 Great Lakes reports record full year results
14:32 AAM completes 80’ patrol vessel for the Texas Parks and Wildlife Dep't
13:37 EDS HV Group completes scope of work at Vattenfall’s HR3 wind farm
12:23 Ingeteam signs the contract with Yantai CIMC Raffles Offshore for hybrid electric propulsion system delivery of two Ro-Ro vessels
11:21 USCG, other agencies to conduct search and rescue exercise near Perdido Bay

2020 February 22

17:14 First Subsea provide Cable Protection Systems for NnG
14:48 Med Marine: Turkish-built tug equipped with SCHOTTEL bestseller
13:41 CSBA study finds U.S. dredging industry a critical component of national security
11:39 USCG Cutter Legare returns home after interdicting over 3,300 pounds of drugs
10:47 Ray Fitzgerald to rejoin Crowley as COO

2020 February 21

18:12 Digitization of KN: paper is no longer used in the operation of Klaipėda LNG terminal
17:48 NIBULON Shipyard is about to launch second non-self-propelled open type vessel
17:17 CMA CGM announces Emergency Space Surcharge from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
16:59 New roll trailers put into operation at Bronka port
16:04 AS Tallink Grupp’s wholly-owned subsidiary AS Hansatee Cargo merged with Group’s wholly-owned subsidiary AS Tallink
15:25 Russia's Main Department of State Expertise approved adjusted design documentation under Nord Stream 2 project
15:02 OCEAN Industries orders MAN Propulsion Packages for Royal Canadian Navy tugs
14:13 Diana Shipping announces time charter contract for m/v Coronis with Koch and cancellation of the sale of a Capesize dry bulk vessel
13:01 COSCO SHIPPING Lines provides water and rail transport services
12:40 Wärtsilä LPG Fuel Supply System the first ever to undergo engine testing
12:12 ABS to class world’s largest B-Tank VLECs by Jiangnan
11:30 Coronavirus disease 2019 – IMO urges no unnecessary delays to ships
11:09 World’s first LPG-retrofit order exercises option for four additional engines
10:44 MABUX: Bunker market this morning, Feb 21
10:43 Biofouling demands collective, urgent and ‘proactive’ approach, stresses Bellona
10:09 Cod farming set for rebound as savvy investors rush to back Norcod
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:43 GTT acquires Icelandic company Marorka, an expert in Smart Shipping
09:35 BlueWater Reporting closely monitoring blanked sailings amid coronavirus outbreak
09:34 Brent Crude futures price is down 0.73% to $58.88, Light Sweet Crude – down 0.61% to $53.55
09:16 Baltic Dry Index is up to 480 points

2020 February 20

18:27 SMOOTH PORTS Partners met and discussed in Livorno
18:07 UNIIQ invests in Tetrahedron’s innovative crane for next-gen wind turbines
17:52 RF Navy’s Admiral Kasatonov frigate left for Barents Sea to continue testing
17:30 Evergreen issues notice for reefer cargo to Shanghai、Ningbo and Xingang, China
17:17 Tersan Shipyard (Turkey) delivers lead crab catching and processing ship of Project ST184
17:00 West Africa Container Terminal to commence Phase 2 upgrade
16:53 Port of Rotterdam increases sales of LNG and VLSFO
16:53 Indonesia hosts new national workshop on maritime security risk
16:29 UN agencies collaborate to promote seafarers’ rights treaty
16:04 INOK TM and Admiral Makarov SUMIS sign agreement on cooperation
15:38 Rosmorport reports on its icebreaker support in Russian seaports as of February 17, 2020
15:11 Rosmorport changes tariffs for services offered at the seaport of Kaliningrad
14:47 BIMCO joins Japan to regulate carbon intensity of existing ships
14:25 ESPO published its Position Paper on European Green Deal objectives in ports
14:02 CHIMBUSCO starts to supply China-produced low sulphur bunker oil to international ships
13:43 Top-level speakers announced for Unmanned Maritime Systems Technology 2020 in London
13:20 Throughput of Russia’s river ports fell by 11.6%, from 143.1 million tonnes in 2010 to 126.5 million tonnes in 2019
13:01 BC Ferries names and christens the first two Island Class ferries
12:46 Bunker prices are flat at the Far East ports of Russia (graph)
12:31 National Marine Dredging Company and Royal IHC launch TSHD GHASHA
12:08 Port of Baku and Tamiz Shahar cooperate on environmental issues
11:48 Hapag-Lloyd improves operating result by more than 80 percent in 2019
11:41 Port of Gdynia widens its internal entrance to 140 m
11:15 CMA CGM announces PSS for exports from East Russia
10:52 Russian Maritime Register of Shipping introduces new scheme of oil and gas equipment approval
10:24 Main contractor Damen and more than a hundred companies contribute to Combat Support Ship
10:24 MABUX: Bunker market this morning, Feb 20
09:53 Ships of RF Navy’s Baltic Fleet left for Atlantic to perform combat training tasks
09:35 Brent Crude futures price is up 0.32% to $59.31, Light Sweet Crude – up 0.45% to $53.73