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Today,
at the United Nations (UNFCCC) Climate Change Conference in Warsaw (COP
19), the International Chamber of Shipping (ICS) will advise a United
Nations event on the economics of mitigation that reducing CO2 emissions
is an economic 'no brainer' for the global shipping industry. Further
efforts by industry to improve fuel efficiency and reduce CO2 emissions
from ships - which carry about 90% of global trade - is already a
matter of enlightened self interest.
ICS,
which is the principal international trade association for shipowners,
will explain that fuel is the shipping industry's largest variable
operating cost. In the last 5 years alone, fuel prices
have increased by about 300%, and are expected to increase by a further
50%-100% due to the imminent switch to low sulphur fuel, soon to be
required for most ships by separate International Maritime Organization
(IMO) rules.
"The fuel costs for a typical ship carrying iron ore are already about US$3 million a year. For
the latest generation of mega containerships they could be as much $30
million a year" said ICS Director External Relations, Simon Bennett. "The
high cost of fuel means that market forces are already providing
shipowners with every incentive they need to continue improving their
fuel efficiency and reduce their CO2 emissions. Otherwise shipping companies will simply not survive."
With
the full support of the shipping industry, the worldwide entry into
force in January 2013 of amendments to the IMO MARPOL Convention makes
shipping the first industrial sector to have a binding global regime in
place to reduce CO2 emissions.
"In
addition to the new IMO regulations to improve the efficiency of new
ship designs, the mandatory application of Ship Energy Efficiency
Management Plans is now giving additional impetus to fuel efficiency
measures that are already being taken by much of the industry." said Mr
Bennett. This includes measures such as operating ships at
slower speeds, and adjusting trim (the balance of weight which affects
how ships move through water).
The
shipping industry remains committed to working with governments at IMO
to help deliver further measures to improve fuel efficiency from ships. The
immediate focus at IMO, pending the conclusion of a replacement to the
Kyoto Protocol in 2015, is the development of a mandatory system for the
monitoring and reporting of the fuel consumption and CO2 emissions by
every individual ship in the commercial world fleet. This
is fully supported by the industry and is something on which ICS is
about to make a detailed submission to IMO with respect to a possible
way forward that might be acceptable to all nations in both developed
and emerging economies.
Additional Information about 'Shipping, World Trade, and the Reduction of CO2 Emissions' can be found at http://www.ics-shipping.org/free-resources/environmental-protection
IMO
requirements which mean most ships will switch to low sulphur
distillate fuel from less expensive residual fuel are being phased in
between now and 2020
The UN Event within COP 19, at which ICS is speaking, today, Monday 18 November at 1645 see http://www.ics-shipping.org/news/events
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