Cargo owners' coalition calls for IMO action to lower green fuel costs

Zero Emission Buyers Alliance (ZEMBA) calls on the IMO to introduce financial incentives to bridge the price gap between alternative and conventional fuels, ZEMBA chief executive, Ingrid Irigoyen, wrote in an open letter.

PHOTO: Cargo ship carrying ZEMBA member Amazon's shipping containers. Twitter of @Port_Houston

These financial incentives should be included as part of the IMO’s mid-term measures, Irigoyen suggested.

The shipping sector could opt for “unsustainable short-term options” without adequate support. This could hurt confidence in the market and make the overall transition more expensive in the long run, she argued.

On the other hand, clearly defined incentives would “foster a viable market for vastly scalable, long-term fuels and technologies,” she wrote.

Irigoyen also urged the global shipping regulator to implement the proposed GHG fuel standard using a well-to-wake approach, which accounts for emissions across the full lifecycle of the fuel.

By Konica Bhatt

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