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June 6, 2022
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- The Global Shippers Forum fears that from decarbonization
of shipping comes another inflationary push
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- The association urges the IMO to ensure that it does not involve
a further increase in freight prices and that costs are not passed on
about customers
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 The Global Shippers Forum (GSF) fears that the shipping industry
can exploit the energy transition, and in particular the
proposal put forward by the same sector to decarbonise the
shipping, to further raise transport rates
maritime that they have long surpassed, and by a lot,
record levels. On the occasion of today's start of the 78th
meeting of the Marine Environment Protection Committee (MEPC)
of the International Maritime Organization (IMO), which will discuss
a further proposal submitted by the shipowning industry
to introduce a carbon tax on marine fuel with the
aim to promote the transition to low-fuel fuels
carbon emissions, the GSF association, which represents
shippers and shippers, warned that the new tax on
Carbon seems to be set to increase maritime freight.-
- The Global Shippers Forum believes that in the proposal
of the shipowning industry there are two risks. The first is
whereas, under the pretext of withdrawing older ships from the market
and uneconomic, shipping companies use capacity
of hold in order to further increase the freight rates. Secondly
GSF fears that shipping companies will transfer further
costs in part or in whole on shippers through
the application of the widespread Bunker Adjustment Factor (BAF), i
coefficients of variation in the cost of fuel, and through
the wave of suppressions for the introduction of low fuels
sulfur content introduced in 2020.
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- "You will forgive the shippers - he put his hands forward
the director of the GSF, James Hookham - for thinking that the
proposal, and its examination at the IMO, will result
inevitably in even higher freight rates. This - has
explained - why the shipping industry has a
very efficient mechanism to transfer the highest
fuel costs in the form of BAF, the surcharge to cover
changes in the price of fuel. In the current proposals - has
Hookham pointed out - there are few reassurances that
a carbon tax will not turn into additional costs
for freight forwarders'.
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- "If the shipping industry takes the
market-based mechanisms as a way to decarbonisation -
hookham observed - then he has to shelter his own
customers from their inflationary effects, otherwise emissions
will be reduced by squeezing the demand for world trade
rather than encouraging a breakthrough in fuels and
propulsion technologies that is so urgent."
To avoid this risk, the Global Shippers Forum urged the
components of the MEPC to take due account of interest
of exporters and importers, who are the driving force behind the
international trade, and, in view of the
large sums of money involved, to insist that
whatever carbon taxation mechanism is absolutely
transparent and fully analyzable.
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phone: +39.010.2462122, fax: +39.010.2516768, e-mail
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