Tightened technical barriers, increased costs
In late April 2025, the IMO reached an important agreement on the development of a global carbon pricing system for the maritime sector, aiming to reduce net emissions. This includes imposing a tax of about $380 for each ton of CO2 exceeding a fixed threshold, while allowing businesses to use carbon credits to offset tax obligations.
Shipping responds to global carbon tax - Photo: Construction Newspaper
If officially approved in October 2025 and effective from 2028, this will be the first global carbon tax applied to a specific economic sector. This forces shipping businesses to quickly restructure to adapt, avoiding falling into a passive position.
For Vietnamese businesses, this is not a simple problem. According to statistics from the Vietnam Maritime Administration, the average age of Vietnam’s current fleet is 17.4 years – higher than the global average, making it difficult to meet new emission standards.
Ships built before 2020 are often not equipped with energy-saving technologies, exhaust treatment or optimized hull designs to reduce fuel consumption.
The imposition of a carbon tax could result in a sharp increase in operating costs, eroding profits. For example, for a 20,000-ton vessel, the average daily charter rate is $20,000, with a profit after expenses of $7,000-$8,000 per day. However, if the vessel emits more than 50 tons of CO2, the tax could rise to $19,000, exceeding the daily profit.
This forces ship owners to carefully consider their route choices, especially those in carbon credit zones. Failure to upgrade their fleet or change technology in a timely manner can result in a loss of market share or even exclusion from the global supply chain.
Early Entry Businesses
Mr. Tran Van Quyen, Director of Hai An Container Transport Company Limited, said that currently, ships are being installed with exhaust gas filtration systems, hull polishing to reduce friction, replacing lighting with energy-saving LEDs, and lowering engine rpm to save fuel.
However, these are only short-term measures. In the long term, building new generation ships – using modern, environmentally friendly technology – is the fundamental solution. According to Mr. Quyen, new ships not only help reduce emissions but also improve competitiveness and save operating costs.
“The cost of building new ships is huge, but when compared with the upcoming carbon tax and international requirements, the investment is necessary,” said Mr. Quyen, adding that fleet modernization is also one of the driving forces to promote a green maritime ecosystem at seaports.
Grasping this trend, Vietnam National Shipping Lines ( VIMC ) has developed a plan to invest in a "green" fleet for the period 2025 - 2030. VIMC's strategy is to rejuvenate the fleet, combining new purchases, leasing and upgrading existing fleets to meet IMO standards.
Vietnam Shipping Joint Stock Company (Vosco) is also planning to invest more than VND10,000 billion in Supramax, Ultramax and product oil tankers. Hai An Transport and Stevedoring Joint Stock Company is also building two new container ships with a capacity of 3,000 TEU each...
Expectation of support policy
However, according to many businesses, in order to strongly implement new shipbuilding and upgrading projects, the State’s support through appropriate support policies is needed. In particular, perfecting the legal mechanism and adjusting cumbersome regulations are top priorities.
Specifically, Decree 171/2016 stipulates that the construction or sale of ships by state-owned enterprises must be carried out through bidding – a lengthy and inflexible process compared to the international practice of buying and selling ships, which only requires competitive bidding. Many enterprises have proposed adjusting this regulation to increase initiative and timely investment in a period of rapid market fluctuations.
In addition, some other recommendations include reducing VAT by 10% when importing new ships, arguing that this is a major barrier that makes businesses hesitant to invest in modern ships.
Experts say that developing the marine economy cannot be separated from environmental protection. In the context of global maritime transport transforming strongly to achieve the goal of zero net emissions, it is necessary and urgent for Vietnam to soon have policies to support businesses in green transformation.
According to experts, the movement of the shipping industry – from infrastructure investment, fleet renewal to legal regulation changes – is not only an external requirement, but also an internal trend that helps the industry become more sustainable in the long term. If Vietnam can take advantage of this opportunity, the shipping industry can improve its position in the global logistics chain, while contributing to the country’s commitment to net zero emissions.
Construction Newspaper
Source: https://vimc.co/van-tai-bien-ung-pho-thue-carbon-toan-cau/
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