July 16, 2023
3 min

BIMCO applauds IMO strategy on GHG reductions from ships - India Shipping News

The International Maritime Organisation (IMO) has set a target for the world fleet to reduce its greenhouse gas emissions by over 70% by 2040 compared to 2008 levels. The decision has been described as "groundbreaking" by BIMCO, the largest direct-membership organisation for ship owners. The reduction strategy will apply to both existing and new ships, and BIMCO president Nikolaus Schües stressed the need for investment decisions and business models to be reassessed in order to meet the targets. The IMO has also established a timeline for the introduction of mandatory measures to ensure the targets are met.

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Adhikansh Gupta
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Writer and editor who covers the latest trends and innovations in the software-as-a-service (SaaS) industry