How to gather 50 Billions ?
Recently IMO is considering a proposal of 50 Billions funding in research and develop the technology for decarbonisation in order to achieve target for IMO2050. One highlight in the proposal is that they are considering a charge of USD2/MT on the bunker fuel consumed by ships to support the funding to fight against climate change.
Below is my personally through on the scheme :
- Supplier should paid for the USD2/MTD : Consider how many bunkers buyers and how many bunker suppliers in the world ? The number of suppliers is obviously much lesser than bunker buyers. Its much easier to co-ordinate with smaller numbers of suppliers in contrast to trying to communicate with all the bunker buyers around the globe. It will be more feasible and time efficient to focus on smaller numbers bunker supplier.
2. Only charge the supplier which operate in the TOP 10 ( or even top 5) ports in the world :
The logic is simple, by 80/20 rule, 80% of volume is supplied the top numbers of port in the world. It would take the same effort and resources to track with one supplier in Singapore and one in Cambodia ( which supply 100MT total last month) . In addition, its much easier to just work with local port authority in the major ports ( Singapore, Fujairah, Rotterdam, Hong Kong) to assist on the funding scheme than trying to ask for EVERY port authority in the world. The return of investment for managing cost can be further be heightened.
Until next time
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