pricing mechanism. The fuel standard will require ships to gradually reduce how polluting its ship fuel can be and the pricing mechanism will contain set prices on the greenhouse gases ships emit to encourage the industry to lower emissions. The IMO is looking to apply a carbon price of US $ 100 per tonne of CO₂ equivalent.
This applies to all oceangoing ships with more than 5,000 gross tonnage as these ships are responsible for more than 85 % of global shipping emissions and already covered by reporting requirements for fuel data collection. The IMO says that while ships under 5,000 gross tonnage are not covered, discussions are underway to possibly include ships between 400 and 5,000 gross tonnagein the future.
“ We have the technology and the willingness- we just need the clear regulatory framework to accelerate the energy transition in the shipping industry”
Lene Bjørn Serpa, Director, Head of Corporate Sustainability, Maersk energydigital. com 93