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Industry proposes mandatory $5bn decarbonisation R&D fund

ICS, BIMCO, WSC, Intertanko, Intercargo, CLIA, Interferry and IPTA unite to ask governments to set up a new independent fund that can contribute to shipping’s effort to decarbonise. The bodies hope it can be up and running by 2023 and are adamant it should be devoid of political considerations

Shipping companies would have to pay $2 per tonne of fuel oil that their ships consume, probably for 10 to 15 years

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