Bloomberg reported on the 12th (local time), citing a source who asked not to be named, “Some oil tanker and container ship owners using local ports in China are affected by the Chinese authorities’ request for carbon reporting.” Bloomberg said, “This is due to the recent introduction of a carbon tax on ships by the European Union (EU),” adding, “China could also help expand its carbon emission trading system to the ship sector.”
If China forces shipping companies to pay for carbon, it will bring about a major change in the global shipping sector. China, the world’s second-largest economy, is the largest importer of crude oil and has the largest volume of oil tankers. In addition, Chinese ports are one of the largest ports in the world in terms of container volume. China’s transportation ministry said, “It is correct that some ports have been notified verbally,” adding, “This is in accordance with the International Maritime Organization’s data collection requirements.”
According to the International Energy Agency (IEA), international shipping accounted for about 2% of global carbon emissions as of 2022. The International Maritime Organization (IMO) is preparing global standards to meet the shipping industry’s carbon reduction goals, but progress is slow. As a result, some are raising concerns about regulatory imbalances.
China is creating a system that imposes carbon charges on certain industries such as steel and aluminum, just like the EU’s Carbon Emissions Trading System and Carbon Border Adjustment System (CBAM). “China has a strong business logic to keep up with the EU while getting ahead of the global standards that IMO is trying to make,” said Andrew Wilson, head of research at BRS Shipbrokers, a shipping information company.
