By Mike Wackett
Investors are increasingly concerned that, with only 18 months to go until IMO’s 0.5 per cent sulphur cap regulations, container lines still have no clear strategy on how they will comply, and how the change will be paid for. This ‘wait and see’ approach is regarded as a red flag by investors who worry that the lines will stumble into the default solution, in January 2020, of burning the 50 per cent-more-expensive low-sulphur fuel oil (LSFO) in their ships without proper compensation. (more…)
By R. Bruce Striegler
Little did Prime Minister Justin Trudeau realize in November 2016 as he stood before a crowd of reporters in Vancouver announcing his government’s $1.5 billion Oceans Protection Plan, that he would ultimately have to declare in May 2018 the government would be spending a further $4.5 billion to purchase the Trans Mountain pipeline and all of Kinder Morgan Canada’s core assets.
By Brian Dunn
A resurgence in global trade will benefit Canada’s shipping industry, with export growth expected to continue, according to a leading Canadian economist. And he expects trade tensions between the United States and China will be resolved. “Canadian exporters are worried that NAFTA may be cancelled, but I believe cooler heads will prevail,” Stephen Tapp, Deputy Chief Economist, Export Development Canada, said at the annual conference of the Shipping Federation of Canada in Montreal on May 23. Labour markets in Canada and the U.S. are improving, economic slack is being absorbed, while historically low interest rates and inflation are rising, both positive signs for the economy, he added. (more…)
The Chamber of Marine Commerce (CMC) welcomes the submission of the Canadian Pilotage Review’s recommendations and will review these in detail to ensure that it contains the significant changes that are needed to improve a service that has not been overhauled in over 45 years.
“We will be carefully reviewing the recommendations in the report. Canada’s pilotage regime is stuck in the 1970s and significant changes are needed to the Pilotage Act and its regulatory framework to support a modern transportation network that is both safe and efficient,” said Bruce Burrows, President of the Chamber of Marine Commerce. (more…)
By Alexander Whiteman
MEPs (Members of the European Parliament) have told the International Maritime Organization there can be no exceptions or exemptions in the fight against climate change and are demanding immediate action to cut shipping emissions. In an open letter to EU member states and the IMO, MEPS from Croatia, the Netherlands, Portugal and Sweden say that despite shipping creating emissions equal to all of those created in the Netherlands, it remains the only sector not included in the European commitment to the Paris Agreement. (more…)
By Alexander Whiteman
So what is the truth about shipping emissions?
The IMO has decided to cut 2008 levels of greenhouse gas emissions (GHGs) by at least 50 per cent by 2050 – but not all in the industry are convinced. A recent comment piece in Splash 24/7, by First International Chairman Paul Slater, questioned shipping’s role in climate change, calling the IMO’s proposed plan “fatuous, unrealistic and unnecessary”. He wrote: “The CO2 issue has been grossly overstated…It has been shown that [shipping’s] CO2 is absorbed by seawater without damaging results”. He also claimed to The Loadstar that there was no evidence that polar ice was melting. (more…)