Meet M7: The Newest Shipping Association

Inspired by the gathering in Cornwall, Southwest England for the annual G7 Summit, delegates from the shipowner associations have created a brand new Shipping Association, The M7.

Meet M7: The Newest Shipping Association
Image Via: M7

The delegates from India, Australia, South Africa and South Korea, the secretary general of the International Chamber of Shipping, the chief executive and secretary general of BIMCO and a representative from European Community Shipowners’ Associations joined together for a virtual inauguration summit of the M7, earlier this week, organised by the UK Chamber of Shipping.

John Denholm, president of the UK Chamber of Shipping, and the chair of the meeting, said, that the meeting was to discuss about improving trade through digital documentation and that governments from around the world, and industry players should invest more in green research and development projects. He also highlighted the important role that seafarers are playing, in keeping trade flowing through the COVID-19 Pandemic.

The M7 Association backs the $5 Billion International Maritime Organization Maritime Research Fund, for research on decarbonization, is aimed to be collected by a bunker levy.

Also Read: Maersk’s Decarbonization Proposal: $450 Per Tonne Bunker Tax

Denholm also quoted, “if the industry is to meet its goal of zero carbon emissions by 2050, large-scale investment in research and development is necessary as without this we simply will not have the technologies needed for the greener, cleaner shipping industry that we all want.”

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