News / WSC steps up drive for cleaner ship fuel with 'Green Balance Mechanism'

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The World Shipping Council (WSC) has announced a proposal for a Green Balance Mechanism, which would levy massive taxes on conventional ship fuels and aim to close the price delta between grey and green fuels.

WSC said the cost of green fuels was currently around four times greater than conventional fossil fuels, a cost gap liable to increase, given the diminishing desirability of the latter.

Each year, the green balance fee would scale depending on the ...