IMO's carbon levy to add 5% to Indian fleet's freight rates, says DGS

Impact on Indian ships $100 million, saves $2 bn compared to EU's proposal, says DG Shipping

After a major net-zero carbon emissions framework was agreed upon by the International Maritime Organization (IMO), India sees the upcoming carbon levy — the first in global shipping —  raising fuel and freight costs for its own fleet. 

However, the Directorate General of Shipping (DGS) says there is no cause for concern. 

The DGS — the country’s shipping regulator — has said that added costs would be well within the industry’s comfort zone, adding that the India-Singapore proposal agreed upon by the United Nations’ maritime body (IMO) will save the sector over $2 billion till 2030 as compared to the