Japan Eyes New Int’l Rules to Cut Large Ships’ CO2 Emissions

Politics

Tokyo, May 18 (Jiji Press)--Japan is leading efforts to establish new international fuel efficiency regulations for large oceangoing vessels, in a move aimed at reducing carbon dioxide emissions in the global shipping industry, informed sources said.

Under the new rules, vessels will be rated each year according to their use of fuel oil and other fuels, the sources said Monday. Low-rated vessels will be penalized.

The new regulations are expected to be introduced in 2023, after amendments to a related treaty are adopted at a meeting of the International Maritime Organization next month.

In terms of shipbuilding volume, Japan is the third largest in the world, lagging behind China and South Korea. The three Asian countries combined account for more than 90 pct of the total global shipbuilding volume.

Japanese shipbuilders, known to excel in the production of ships with high fuel economy performance, are expected to benefit from the new regulations as they are expected to accelerate global moves to replace old vessels with new, fuel-efficient ones.

[Copyright The Jiji Press, Ltd.]

Jiji Press