Scenario 1: Maritime compliance costs are no longer confined to regional regulation. Based on current policy timelines and market assumptions, the industry’s annual compliance bill could rise from around USD 2.7 billion in 2024 to more than USD 57 billion by 2032, with the IMO framework becoming the largest driver of future cost exposure.
The full storyThe Sovereign Carbon Initiative, implemented in Djibouti and Gabon, calculates the carbon cost as 50% of the total carbon footprint of a ship’s journey to or from Djibouti and Gabon, and the price is set at USD 17 per tonne of CO2e emissions. The principle behind the scheme is simple: those who pollute must pay.
Siglar's Head of Legal Affairs, Sinem Ogis, is back from an intense but important week at IMO MEPC and shares her reflections here.
Navigating the complexities of maritime emissions regulations can be challenging as they continue to evolve. Here, we provide a five-year timeline and a sort summary of key points for you to remember.
