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EU emission rules will add 30 per cent to sea freight costs, warn shipping firms
Zone(s): EU ¦ Sector(s): Trade
[18 June 2014, Supply Management] By Will Green: Shipping companies have warned that EU rules on CO2 emissions will add up to 30 per cent to freight costs unless they are given more time to introduce new technology.
In a letter to The Daily Telegraph, executives from 19 maritime organisations say EU rules on sulphur reduction come into force in January 2015 but switching to low-sulphur fuel will push up costs by almost a third.
The letter said: “When European shipping shifts to low-sulphur fuel, costs will rise by up to 30 per cent for passengers and freight. The only alternative is to reduce sulphur by use of technology that is only just ready, and which could take two years to fit to all our ships.”