News / IMO-watchers praise tentative progress on GHGs and new Arctic ECAs 

© James Phelps

Amid rising general support for a CO2 levy, Xeneta has highlighted the vulnerability of shipping to climate change, evidenced by the drying-up of critical trade arteries over the past 12 months. 

The World Shipping Council (WSC) said its proposed Green Balancing Mechanism was “very positively received” at last week’s MEPC 81 in London. 

The initiative hit the headlines when WSC major shipping line members Maersk, Hapag Lloyd, Evergreen and others endorsed an increase in the cost of fossil fuels concomitant with the ...