HOME PAGE ABOUT US CONTACT US SUBSCRIBE ADVERTISE ARCHIVES
TOP STORIES NATION ECONOMY COMPANIES SHIPPING OPINION PERSPECTIVE LIFE SPORTS MOTORING
SEARCH ENGINE
WWWOur Site
Anchored by Jonathan dela Cruz, Salvador Escudero, Boying Remulla, Teddy Boy Locsin and Alvin Capino
Monday to Friday
8:00pm-10:00pm

ARTICLE SERVICES
  • bookmark this page
  • print this article
  • view archive
  •  
    Europe plans to reduce
    vessel-carbon emissions

    BRUSSELS—The European Union (EU) plans to push this year for curbs on ship emissions linked to climate change, broadening a crackdown that already targets the energy, manufacturing, airline and car industries.

    The European Commission intends to draft a law that would limit ship discharges of greenhouse gases including carbon dioxide, said spokesman Barbara Helfferich. One option is adding the maritime industry to the EU’s emissions-trading system, which requires companies that exceed their CO2 quotas to buy permits from businesses that emit less.

    “There needs to be legislation to reduce greenhouse-gas emissions from ships and it may involve including the industry in the emissions-trading system,’’ Helfferich said by telephone Wednesday in Brussels. Any proposal by the commission, the EU’s regulatory arm, would need the support of national governments and the European Parliament.

    Europe wants to expand emissions trading to reduce air pollution blamed for higher world temperatures, rising sea levels and more frequent heat waves, storms and floods. The 27-nation EU says such a market-based mechanism can help overcome the international impasse over tackling climate change.

    The EU introduced the system for CO2 from power plants as well as steel, paper, cement and other factories in 2005, plans to include European and foreign airlines as soon as 2011 and aims to add the aluminum and chemical industries as well as other greenhouse gases in 2013. The bloc also plans to impose a separate limit in 2012 on car emissions of CO2, the main greenhouse gas.

    Shipping probably accounts for more than 3 percent of global CO2 releases, according to the European Federation for Transport and Environment, which says the maritime industry is the second fastest-growing emitter of the gas after airlines.

    The EU plan to cap emissions by ships mirrors what happened before the commission’s 2006 proposal to add air transport to the emissions-trading system—a step that countries including the US oppose.

    The EU said regulating airline emissions was justified by the failure of the International Civil Aviation Organization to act. The bloc now says a lack of progress at the International Maritime Organization (IMO) warrants European restrictions on ship emissions.

    “The delays at the IMO over reducing ship emissions leave us little option but to take the lead,’’ Helfferich said. (Bloomberg)

    OTHER STORIES

    Danish liner may employ local seafarers

    A DANISH shipping line may employ Filipino seafarers to help manage its new vessels as long as they comply with the company’s requirements. 

    read more

    Currency bet reduces firm’s profit

    SEOUL—Daewoo Shipbuilding & Marine Engineering Co., the world’s third-largest shipbuilder, posted its smallest profit in a year in the fourth quarter as the company lost a bet the won would strengthen.

    read more

    Ship operator’s earnings up by half

    DUSSELDORF—TUI AG, Europe’s largest travel company and owner of the Hapag-Lloyd shipping line, said profit gained 47 percent in 2007 on improvements at both its tourism and marine divisions.

    read more

    Europe plans to reduce vessel-carbon emissions

    BRUSSELS—The European Union (EU) plans to push this year for curbs on ship emissions linked to climate change, broadening a crackdown that already targets the energy, manufacturing, airline and car industries.

    read more

    Hong Kong liner’s shares fall the most in a month

    HONG KONG—Orient Overseas (International) Ltd., Hong Kong’s largest container line, fell the most in a month after it failed to propose another special dividend from the sale of container terminals.

    read more