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CO2 tax of USD 2 per ton is far from the shipping companies' own targets

A CO2 tax of USD 2 per ton fuel is far from the recommendations set forth by several major shipping companies just two months ago at the Global Maritime Forum in Singapore. Norwegian Shipowners' Association agrees that much more is needed in order to reach the target.

BW Group Chairman Andreas Sohmen-Pao presents a proposal for a CO2 tax at this year's Global Maritime Forum in Singapore. | Photo: Global Maritime Forum

The proposal for a CO2 tax from a series of major shipping organizations falls far from the ambitions set forth by senior executives from several of the world's large shipping companies just two months ago in Singapore.

It was announced on Wednesday that organizations such as Bimco, International Chamber of Shipping (ICS) and World Shipping Council propose charging a tax of USD 2 per ton fuel a shipping company buys. This money will be pooled in an R&D fund that aims to boost the development of technologies and fuel that will be needed to ensure that shipping can launch a CO2 free ship by 2030 at the latest.

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