ICS proposes GHG Fee to achieve IMO 2050 emission goals
NewsThe International Chamber of Shipping, with Bahamas and Liberia, proposes a GHG Fee and feebate system to achieve net zero emissions in shipping by 2050.
Insurers raising the stakes in downturn
The shipping industry is in the middle of the biggest global recession seen in the past 60 years. Shipowners and charterers went from boom to bust in an incredibly short time; commodity prices and ship values plunged ever downward over a few months; ocean carryings dropped dramatically as trade slowed to a trickle on many routes; and with little demand for Chinese and American exports, port and terminal operators saw a huge decline in activity and revenue.
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