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Green tide rises: IMO approves carbon emissions fines for ships

Ships off-loading mechandised cargo at the port of Mombasa, April 17, 2018. [FILE/STANDARD].

The shipping industry is about to undergo its most dramatic transformation in decades. In a landmark decision set to reshape maritime trade, the International Maritime Organisation (IMO) has approved a sweeping carbon pricing system that will penalise ships for greenhouse gas emissions starting in 2028.

This means that a landmark agreement on carbon pricing for ships is now on track for global adoption.

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