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.
“As many companies struggle to survive during the difficult years ahead, we must persuade governments to avoid placing yet more straws that risk breaking the shipowner’s back – and the straws to which I refer are the impending costs of environmental legislation,” said Masamichi Morooka.
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