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ICS: Environmental requirements will cost shipping USD 50 billion a year

New environmental legislation for fuel requirements and ballast water cleaning systems could cost the global shipping industry USD 50 billion a year from 2015 to 2025, warns the International Chamber of Shipping at the Nor-Shipping convention.

OSLO: New environmental legislation could cost the global shipping industry USD 50 billion every year from 2015 till 2025, said Masamichi Morooka, Chairman of the International Chamber of Shipping (ICS) on Tuesday at Nor-Shipping in Oslo.

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