U.S. Customs Revenue Tops $100 Billion for First Time Amid Tariff Surge
US revenue from customs duties this fiscal year surpassed $100 billion for the first time, reflecting higher tariffs imposed by the Trump administration.
SINGAPORE, Oct 9 (Reuters) – New standards for bunkering methanol and ammonia will be developed by 2024 and 2025 respectively, the Maritime and Port Authority of Singapore (MPA) said on Wednesday.
The world’s largest vessel refuelling hub is preparing for higher uptake of alternative bunker fuels, which shippers are considering using to help lower carbon emissions.
“The standards will cover custody transfer requirements, safety procedures and crew competencies, to ensure safe bunkering operations and handling of these fuels,” MPA said in a statement issued during SIBCON 2024.
There are currently no detailed standards or established guidances in place for these fuels, some of which are more toxic than the typical fuel oil currently used for shipping.
Meanwhile, 29 more companies from the shipping and bunker industry will be joining a maritime energy training facility that was launched in April this year, adding to the existing 22 partner companies.
There is strong interest and an urgent need for new and enhanced training courses in the maritime sector to address the skills gaps in operating vessels powered by zero or near-zero emissions fuels, said MPA.
(Reporting by Jeslyn Lerh; Editing by Sonali Paul)
(c) Copyright Thomson Reuters 2024.
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