A container ship on the Panama Canal this month. The shipping industry is looking for ways to hit net-zero goals. Photo: EPA
A container ship on the Panama Canal this month. The shipping industry is looking for ways to hit net-zero goals. Photo: EPA
A container ship on the Panama Canal this month. The shipping industry is looking for ways to hit net-zero goals. Photo: EPA
A container ship on the Panama Canal this month. The shipping industry is looking for ways to hit net-zero goals. Photo: EPA

Plans for new levy on shipping industry to support net-zero goals


Nick Webster
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Live updates: Follow the latest news on Cop28

Decarbonising the shipping industry is a goal of climate talks at Cop28, with leaders meeting to discuss the urgency of cutting emissions.

The scale of the task is clear because 90 per cent of world trade relies on shipping.

While a fifth of new vessels on order are being built to run on fuels like green hydrogen and green ammonia, analysts said much more must be done to transform an industry heavily dependent on fossil fuels.

A universal mandatory levy, which is science-based, can play a pivotal role in compelling the maritime industry to reduce its carbon footprint
Albon Ishoda,
Marshall Islands presidential special envoy for shipping

A maritime levy is under discussion, and a strategy to cut greenhouse gas emissions from ships laid down from July by the International Maritime Organisation (IMO) was regarded as a starting point for discussions.

Such a plan would seek to reach net zero in shipping by 2050, and a lead to a commitment to ensure uptake of alternative fuels by 2030.

“Our member states have significantly reinforced their commitment to reducing greenhouse gas emissions from the shipping sector,” said Arsenio Dominguez, the IMO's secretary general elect.

“We will ensure that the reduction requirements in the strategy will be met.

“These measures will be adopted in the autumn of 2025 and come into force in 2027, so it will be quite a challenging period.”

The Marshall Islands relies heavily on imported fossil fuels. Photo: AP
The Marshall Islands relies heavily on imported fossil fuels. Photo: AP

The Marshall Islands – halfway between Australia and Hawaii – relies heavily on imported fossil fuels, but is facing the threat of climate change through rising sea levels.

The archipelago nation is also hugely reliant on shipping and is home to the world’s third largest ship registry.

It is now leading the way with its decarbonising ambitions and aims to slash emissions by 40 per cent by 2030.

Wind power

The Marshall Islands is also investing in research into how sailing can be utilised by supply vessels.

Construction of a 48-metre Pacific Island Supply Vessel began in June 2023 in Geoje City, South Korea. It is equipped with a modern sail system and solar panels for power.

A 500-metre square sail area has the potential to take a vessel to 12 knots, with a hybrid transmission system and backup diesel generator guaranteeing speeds of seven knots in rough seas.

Albon Ishoda, presidential special envoy for shipping in the Marshall Islands, said decarbonising methods and a maritime levy would only prove effective if the global industry fully committed to decarbonising.

“We urge the international community to recognise the magnitude of the climate crisis and the need for more ambitious measures within the maritime industry,” he said.

“We must continue to press for deeper cuts in greenhouse gas emissions to safeguard our environment in future generations.

“A universal mandatory levy, which is science-based, can play a pivotal role in compelling the maritime industry to reduce its carbon footprint.

“We also recognise the potential economic opportunities that can arise from green shipping practices, and the development of sustainable shipping technologies.”

In the UAE, one of the world’s busiest shipping centres, carbon emissions have been cut by 50 per cent by port operator DP World in an effort to achieve net zero emissions by 2050.

Ragnhild Sjoner Syrstad, state secretary to the Minister of Climate and Environment of Norway, said the IMO agreement will prove to be a landmark moment in the shipping industry’s transition to net zero.

“Our domestic actions are not only developing technical solutions but also developing urban markets for batteries, green hydrogen and green ammonia,” said Ms Syrstad.

“We have a specific pathway, and our actions supporting developing countries in their transition towards low and zero emission shipping is important to build a sustainable economy.”

From Europe to the Middle East, economic success brings wealth - and lifestyle diseases

A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.

One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait,  Qatar and Oman – and second on the list in Bahrain.

In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.

The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.

And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.

 

UAE currency: the story behind the money in your pockets
UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

US tops drug cost charts

The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.

Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.

In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.

Some of the costliest drugs worldwide include Lipitor for high cholesterol. 

The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.

High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.

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The specs

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Transmission: seven-speed PDK dual clutch automatic

Power: 375bhp

Torque: 520Nm

Price: Dh332,800

On sale: now

States of Passion by Nihad Sirees,
Pushkin Press

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Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

MATCH INFO

Chelsea 0

Liverpool 2 (Mane 50', 54')

Red card: Andreas Christensen (Chelsea)

Man of the match: Sadio Mane (Liverpool)

The Comeback: Elvis And The Story Of The 68 Special
Simon Goddard
Omnibus  Press

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RESULTS

6.30pm Handicap (TB) $68,000 (Dirt) 1,200m

Winner Canvassed, Par Dobbs (jockey), Doug Watson (trainer)

7.05pm Meydan Cup – Listed Handicap (TB) $88,000 (Turf) 2,810m

Winner Dubai Future, Frankie Dettori, Saeed bin Suroor

7.40pm UAE 2000 Guineas – Group 3 (TB) $125,000 (D) 1,600m

Winner Mouheeb, Ryan Curatolo, Nicholas Bachalard

8.15pm Firebreak Stakes – Group 3 (TB) $130,000 (D) 1,600m

Winner Secret Ambition, Tadhg O’Shea, Satish Seemar

9.50pm Meydan Classic – Conditions (TB) $$50,000 (T) 1,400m

Winner Topper Bill, Richard Mullen, Satish Seemar

9.25pm Dubai Sprint – Listed Handicap (TB) $88,000 (T) 1,200m

Winner Man Of Promise, William Buick, Charlie Appleby

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The specs: 2019 Haval H6

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Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

UAE currency: the story behind the money in your pockets
Updated: December 10, 2023, 9:34 PM