IMO is in the process of adopting a CO2 calculator that most shipping players do not actually support. Much to the frustration of the industry.
The trouble with the Annual Efficiency Ratio (AER), expected to be adopted during MEPC 76 next month, is mainly the fact that the calculator will not lead to a reduction in CO2 emissions – instead some fear it might lead to inefficiency and ballast voyages and therefore counteract the intended purpose of the tool. Additionally, support for the calculation tool is disturbingly sparse throughout the shipping industry.
More from ShippingWatch
In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.