Plans to tax heavily polluting ships is backed

The British Chamber of Shipping has announced that they back the plans for the shipping industry to be brought into line with other polluting industries and subject to international emissions trading system.

It is estimated that the introduction of such a measure would cost shipowners billions of dollars a year, although the backing by the British Chamber of Shipping was seen by many as a surprise.

The European power industry operates a similar scheme on the continent whereby ships are given a pollution quota and anything above that, permits must be purchased with the onus on reducing emissions or suffering the costs.

Due to the growth of UK regulations after the taxation regime has come into play the British Chamber of Shipping has had a growing influence.

The timing of the introduction of such a measure has been brought into question due to the fact that the money for what are, in essence, pollution fines may cause some shipowners, who are already suffering due to reduced global demand, may be tipped into going under.

Due to the very nature of shipping there is no easy way to include shipping within an umbrella carbon emissions scheme. However it is hoped that the introduction of such a measure will in turn mean that greater investment in the long run will be placed in investing to reduce carbon emissions rather than spending on pollution credits.

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