Cyprus shipping firms await crucial IMO decision on global carbon pricing

Shipping companies in Cyprus and Greece could face a radically different carbon bill depending on which of four rival proposals prevails at the International Maritime Organisation (IMO), with the options ranging from no direct greenhouse gas charge to a Tier 1 compliance price of $300 per tonne of CO2 equivalent.

The outcome directly concerns Cyprus’ shipmanagement cluster and the Greek-owned fleet, affecting operating costs, charter agreements, investment in cleaner fuels and decisions over...