Media Release – 11 July 2024
“INTERCARGO joins shipping industry in calls for IMO
to amend flaws in the Carbon Intensity Indicator“
With discussions regarding the IMO’s (International Maritime Organization) Carbon Intensity Indicator (CII) due to recommence at their Marine Environment Protection Committee (MEPC) 82 meeting in September, INTERCARGO, the association of dry bulk shipping companies, together with the other global shipping associations, have issued a pertinent joint policy statement to the IMO calling for changes to the flaws in the Carbon Intensity Indicator (CII).
Along with CLIA, BIMCO, InterManager, ICS, and INTERTANKO, INTERCARGO has indicated that the CII in its current format is inadequate and its one-size-fits approach, has inherent flaws that unfairly punish the shipping industry, particularly the dry bulk sector.
In line with the IMO’s strategy to reduce emissions from shipping, the sector is actively striving to do all it can to achieve the goal of being carbon free by 2050. However, due to serious shortcomings with the CII metric the shipping industry is calling on the IMO to amend the current way the CII is applied, in order to avoid unintentional outcomes that conflict with the IMO Strategy to reduce overall greenhouse gas emissions.
In addition, INTERCARGO is calling on the regulatory authorities to work in closer cooperation with the shipping industry and flag states, to ensure that the true environmental performance of vessels is reflected in the CII.
Kostas Gkonis, Secretary General of INTERCARGO, said: “In March the IMO recognised the concerns raised by the shipping industry relating to the shortcomings and unintended consequences of the CII, resulting in agreement that it should be reviewed. The IMO has, so far, received 78 submissions calling for amendments and/or highlighting the concerns of the CII. INTERCARGO and the rest of the shipping industry will be part of the solution to these issues, and we look forward to the commencement of the CII review at the IMO’s Marine Environment Protection Committee in the autumn.”
INTERCARGO and its members remain fully committed to safe, sustainable shipping in clean oceans and in line with IMO targets, we will continue to strive to be carbon free by 2050.
The full joint policy statement can be viewed here: https://www.intercargo.org/joint-statement-carbon-intensity-indicator-cii/
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About INTERCARGO
International shipping is vital for the global economy and prosperity as it transports approximately 90% of world trade. The dry bulk sector is the largest shipping sector in terms of number of ships and deadweight. Dry bulk carriers account for 43% of the world fleet (in tonnage) and carry an estimated 55% of the global transport work. Please view INTERCARGO’s messaging via ESG here: https://www.intercargo.org/esg-review-2024/
The International Association of Dry Cargo Shipowners (INTERCARGO) unites and promotes quality dry bulk shipping, bringing together 250 forward thinking companies from 30 countries. INTERCARGO convened for the first time in 1980 in London and has been participating with consultative status at the International Maritime Organization (IMO) since 1993. INTERCARGO provides the forum where dry bulk shipowners, managers and operators are informed about, discuss, and share concerns on key topics and regulatory challenges, especially in relation to safety, security, the environment, and operational excellence. The Association promotes its members’ positions to IMO, as well as to other shipping and international industry fora, having free and fair competition as a principle.
