Monday 24th Oct 2016 - Logistics Manager

Time to tax shipping bunkers, say charities

Oxfam, together with the World Wide Fund for Nature, is calling for a $25 a tonne tax on fuel for ocean shipping.

The report, Out of the bunker – time for a fair deal on shipping emissions, reckons it would help to cut emissions and generate $25 billion a year by 2020.

The money would be used to compensate developing countries for higher import costs and give $10bn a year to the Green Climate Fund, which was set up by the UN last year but has no money.

The report calculates that the tax would increase the cost of global trade by 0.2 per cent.

However, the report says little about collecting the tax – simply suggesting that an organisation would collect it centrally on behalf of the International Maritime Organisation.