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EMISSIONS: Asian Shipping Firms to Slash 2030 Emissions by 30-50%

EMISSIONS
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 Asian container lines, led by HMM and Cosco among others, are committed to significant reductions in carbon emissions, with firms slashing 2030 carbon emissions by 30-50% vs. 2008 levels and LNG poised to be the main transitional fuel, according to Bloomberg. 

  • HMM aims for a 70% cut in GHG emissions by 2030 compared to 2008 levels, targeting net-zero by 2050.
  • Cosco plans to reduce emissions by 12-20% in its container and terminal divisions by 2030 from 2019 levels, with a group-wide net-zero goal by 2060.
  • Japanese liners (MOL, NYK, K-Line) and Taiwanese peers (Evergreen, Yang Ming, Wan Hai) are targeting 30-50% emissions cuts by 2030 and carbon neutrality by 2050.

  • Additionally, there is growing support for a global levy on shipping emissions, following recent discussions at an IMO working group meeting.


     

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 Asian container lines, led by HMM and Cosco among others, are committed to significant reductions in carbon emissions, with firms slashing 2030 carbon emissions by 30-50% vs. 2008 levels and LNG poised to be the main transitional fuel, according to Bloomberg. 

  • HMM aims for a 70% cut in GHG emissions by 2030 compared to 2008 levels, targeting net-zero by 2050.
  • Cosco plans to reduce emissions by 12-20% in its container and terminal divisions by 2030 from 2019 levels, with a group-wide net-zero goal by 2060.
  • Japanese liners (MOL, NYK, K-Line) and Taiwanese peers (Evergreen, Yang Ming, Wan Hai) are targeting 30-50% emissions cuts by 2030 and carbon neutrality by 2050.

  • Additionally, there is growing support for a global levy on shipping emissions, following recent discussions at an IMO working group meeting.