🌍 Global Shipping Secures First-Ever Emissions MandateRead post
- Global shipping is set to curb emissions by 2028, under a landmark UN IMO agreement, imposing fines for CO2 emissions over $380/ton if cleaner fuels are not adopted.
- The mandate, despite opposition from nations like Saudi Arabia, positions shipping as the first industry with international emissions targets, though lacking a global carbon tax.
- Adoption of costly green fuels like e-kerosene and ammonia viewed as central to reducing emissions but poses high financial challenges. The mandate could lead to an 8% reduction in emissions by 2030.
🌍 IMO's Landmark Global Shipping Carbon Pricing AgreementRead post
- IMO agrees on first-ever carbon pricing for shipping, charging $100-$380/ton for CO₂ emissions to promote decarbonization.
- Large ships with high emissions will pay fees or buy allowances, potentially generating up to $13 billion annually for low-carbon initiatives.
- The US opposes the measure, raising potential geopolitical tensions with countries like Saudi Arabia, Russia, and others against the carbon tax plan.
🚢 Rising Costs: Low Water Levels Impact Rhine FreightRead post
- Low water levels on Germany's Rhine River significantly increase freight costs as vessels operate below capacity.
- Prices for tanker freighter journeys surge due to load distribution over multiple vessels to compensate for reduced water depths, with prices increasing from €34 in March to €80 per tonne now.
- Anticipated rain may provide relief, but the current situation is not deemed an extreme low water event by Germany’s transport ministry.
🚢 Early Start to Great Lakes Shipping Season Amid Tariff UncertaintiesRead post
- The shipping season on the Great Lakes began earlier than usual in 2025, with the first commercial vessel passing through the Soo locks on March 21.
- Uncertain impacts from recent U.S. tariffs and potential counter-tariffs from trading partners could affect shipping activity, especially for Great Lakes ports dealing with grain and iron ore.
- Tariffs on Canadian steel and the closure of specific iron ore mines in Minnesota introduce further unpredictability to trade flows and logistical operations in the region.