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IMO eyes carbon tax on shipping by 2027
The United Nations International Maritime Organization (IMO) is contemplating a greenhouse gas emission tax on the maritime industry from 2027, potentially marking the first global sector to face a mandatory carbon fee. This tax aims to address the industry’s significant contribution to global emissions and could drive the adoption of eco-friendly practices among shipowners. The potential revenue of US$100 billion annually may also aid developing nations in combating climate change. Despite uncertainties surrounding the tax’s implementation and impact, IMO Secretary-General Arsenio Dominguez is resolute about establishing a pricing mechanism.2024/03/26 17:50 -
Yang Ming shares surge amid Red Sea shipping crisis
Shares of Yang Ming Marine Transport Corp. experienced a surge in volume, with over 70,000 shares traded, ranking in the top five in terms of transaction volume. This follows the suspension of services through the Red Sea by major container shipping companies, including Evergreen Marine Corp., Yang Ming, and Wan Hai Lines Ltd., due to attacks by Yemeni militants. The crisis in the Red Sea has led to global shipping lines rerouting, potentially alleviating excess capacity and boosting international freight rates. The stock performance of these "Big Three" container shipping firms has drawn significant attention. Evergreen Marine’s stock exhibited volatility, reaching a post-ex-dividend high of NT$148 but later dipping to NT$144.5. Yang Ming’s stock price also reached a morning peak but corrected downwards, with a trading volume surpassing 70,000 shares. Wan Hai Lines experienced a similar downward trend. These movements in the shipping sector are closely monitored amid the ongoing situation in the Red Sea, which impacts shipping routes worldwide.2023/12/20 15:29