AMKAF - Maersk seeks carbon tax on shipping fuel to bridge gap to green alternatives

A.P. Moller-Maersk (AMKBY) is calling for a $150/ton carbon tax on marine fuels to help bridge the price gap between fossil fuels that vessels consume today and greener alternatives that are now much more expensive.The world's largest shipping container company wants the International Maritime Organization to get a carbon dioxide tax for the industry ready by 2025, likely starting at ~$50/ton before ramping up to at least $150/ton in subsequent years.The $150 levy works out at a ~$450/ton increase in the cost of very low-sulfur fuel oil - a mainstream product for the industry today - according to Maersk.Maersk CEO Soren Skou says the extra cost would be passed on to customers, but shipping's economies of scale mean the cost of a pair of sneakers would only rise by a matter of cents.Such a tax would have a "huge impact on the transition to greener fuels," Skou says, and it also

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Maersk seeks carbon tax on shipping fuel to bridge gap to green alternatives