Latest news with #MBM
The Star
3 days ago
- Automotive
- The Star
Respect bridges all differences
AMIDST the country's vibrant diversity, the Yang di-Pertuan Agong stands not only as a constitutional monarch but also as a steadying force and symbol of unity for all Malaysians, regardless of race or religion. Known for championing harmony even during his reign as the Johor Ruler, His Majesty Sultan Ibrahim, King of Malaysia, continues to embody the spirit of unity on a national scale. For 31-year-old youth volunteer and entrepreneur T. Thashidaran, the King's call for racial unity resonates deeply. Inspired by His Majesty's words that unity is the greatest gift Malaysians can offer, Thashidaran has dedicated much of his time to helping the underprivileged, including the Orang Asli community. 'I also believe that sports is a powerful medium to unify people from different backgrounds. 'That is why I provide free football coaching to over 150 students from several schools in the Klang Valley twice a month,' he shared in an interview. Ho (left) and Ahmad Farhan both acknowledge the proactive role of the royal institution in building bridges among communities. Thashidaran, who won the Selangor-level National Prime Minister's Youth Award this year, said he is actively involved in various non-governmental organisations (NGOs) including the Hindu Youth Organisation. He has also helped install solar panels in Orang Asli villages and offered free school transportation for students at risk of dropping out. Thashidaran credited the start of his active volunteerism with an incident a decade ago when his car tyre burst on an expressway in Kuala Lumpur. He didn't know how to replace a tyre at the time and his location meant complications with towing. 'Left with no choice, I stood by the roadside for about two hours in the drizzle. Thankfully, a kind Chinese uncle stopped his car and came to my rescue. Soon after, an elderly Malay motorcyclist also pulled over to help us. 'The experience changed my outlook on life. This camaraderie is one of the small things that happen daily in Malaysia and is something we often take for granted,' he said, adding that after fixing his car, he called the two generous men to thank them for their help. Thashidaran (right) and other volunteers preparing to distribute food to the needy in the Klang Valley. He added that the King has always emphasised unity and harmony, and he hopes Malaysians take that message to heart. Malaysian Youth Council (MBM) secretary-general Ahmad Farhan Rosli echoed this sentiment, highlighting the royal institution's vital role in safeguarding national harmony. 'The Agong is our symbol of unity and the umbrella that protects all Malaysians. 'His Majesty has the authority to speak up on issues that threaten peace and uses that voice wisely,' he added. The MBM represents over 40 youth-based NGOs as Malaysia's largest youth federation and recently launched its Harmony Committee. This initiative aims to enhance inter-racial and interfaith dialogue across the nation. Ahmad Farhan noted that the committee was officiated by Datuk Seri Dr Wan Azizah Wan Ismail, who serves as the Bandar Tun Razak MP and is Prime Minister Datuk Seri Anwar Ibrahim's wife. 'Unity is a shared responsibility. We must go beyond tolerance as we must truly understand and get to know each other despite our differences. 'We need to actively seek understanding by engaging in dialogue and appreciating each other's cultures,' added Ahmad Farhan. Thashidaran helping to install solar power panels in an Orang Asli village in Cameron Highlands. Meanwhile, Johor Baru Tiong-Hua Association president Ho Sow Tong said Johor's deep-rooted multiracial harmony can serve as a model for the entire nation. 'The concept of Bangsa Johor was introduced by His Majesty's forefathers and reaffirmed by the Sultan himself. 'It shows how a multiracial society can thrive when built on mutual respect and cooperation,' he said. Ho pointed out that many in the younger generation are unaware of the long history of the Chinese community in Johor, which dates back to the reign of Sultan Abu Bakar in the 19th century. He said Sultan Abu Bakar personally invited the Chinese to settle in Johor and help develop the state's economy by planting pepper and gambier. The royal family also introduced the Kangchu system, under which the Chinese established riverine settlements known as kangkar across Johor. 'At one time, there were more than 20 kangkar settlements across the state, each led by a chieftain or Kangchu. 'The Chinese were not pendatang; they were invited guests of the Sultan. This sense of welcome and shared purpose laid the foundation for harmony,' he said, adding that the spirit continues to this day. The goodwill between the Johor royalty and the Chinese was further cemented when the Chinese community leaders gifted Sultan Abu Bakar the Dewan Cina, a hall within the Istana Besar grounds that still stands today. 'The hall was once used as a meeting place for the state assembly. Today, it is still known as the Chinese Hall and houses plaques, gifts, and royal collections of the Johor royal family. 'More than that, the building symbolises friendship, appreciation and cooperation between the Malays and the Chinese,' said Ho. Ho added that Sultan Ibrahim walks the talk as His Majesty is often seen mingling with the people at various cultural functions, including the annual Johor Chingay Festival organised by Ho's association. This serves as a reminder that Malaysia's strength has always come from its people – united in diversity, bonded by mutual respect and guided by a monarch who rises above politics to safeguard the nation's soul.
Hamilton Spectator
27-05-2025
- Business
- Hamilton Spectator
Murray Brook Minerals, Puma's Subsidiary, Closes $220,000 Private Placement
RIMOUSKI, Quebec, May 27, 2025 (GLOBE NEWSWIRE) — Puma Exploration Inc. (TSXV: PUMA) ('Puma'), announces that its subsidiary, Murray Brook Minerals Inc. ('MBM' or 'Murray Brooks Minerals') has closed a non-brokered offering consisting of 4,400,000 flow-through common shares (the 'FT Shares') of MBM at a price of C$0.05 per FT Share for aggregate gross proceeds of $220,000 (the 'FT Offering'). Following the FT Offering, Murray Brook Minerals has now 28,044,165 common shares issued and outstanding, with no warrants or options. Puma holds 23,644,165 common shares of MBM, representing approximately 84.3% of its issued and outstanding shares. The proceeds of the FT Offering will be used to advance the Legacy Project, a copper and silver asset, previously held by Puma and contiguous to Puma's McKenzie Gold Project in Northern New Brunswick. As part of Puma's successful DEAR strategy, the Murray Brook Minerals business model is to acquire prospective strategic and critical metals mineral properties with excellent discovery potential that a stand-alone public company can explore and develop. This business model provides Puma's investors with equity interests in another explorer and developer and exposure to other commodities while Puma continues to focus on its gold assets. As a reminder, Puma spun out in 2021 its copper assets to Canadian Copper (CSE: CCI) under an option transaction and subsequently, the Puma shareholders received common shares of CCI upon its listing on the CSE in 2022. Puma currently owns a 9.5% stake in CCI. Over the past three years, CCI has developed and grown its assets and has recently announced the results of a positive preliminary economic assessment (PEA) ( see Canadian Copper's News Release dated May 22, 2025 ). 'We are thrilled to have a brownfield project close to our New Brunswick exploration offices with a copper/silver deposit outcropping at surface. Our effective low-cost exploration technique will help generate new drill-ready targets and potentially expand the existing Legacy Deposit. As Canadian Copper in 2022, Murray Brook Minerals will develop this asset and other potential projects. With this transaction, Puma enhances shareholder valuation while minimizing dilution, ' mentioned Marcel Robillard, President and CEO of Puma Exploration. The Legacy Project The Legacy Project is contiguous to the McKenzie Gold Project in Northern New Brunswick and consists of two (2) claim blocks covering 10,100 ha (Figure 1). The property is easily accessible, located less than 15 km from St-Quentin, where Puma has its field exploration office. Figure 1. Location of the Legacy Project The underexplored Legacy Project has a high potential for discoveries. The property hosts high-grade copper-silver skarns similar to Osisko Metals' Gaspé Copper in Québec. The Legacy and Gaspé Copper projects exhibit many similarities—they are part of the same Appalachian orogenic system, are of the same age, and exhibit the same mineralization and metal associations. Legacy hosts a copper and silver deposit, the Legacy Deposit, with a historical resource estimate reported in 2015 (Independent Technical Report for the Legacy Project, Restigouche County, New Brunswick, Canada, Marek Nowak, Peng, Chris Barrett, CGeol, Tessa Scott, B.A., Effective Date: June 22, 2015 ). A Qualified Person on behalf of Puma has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. Figure 2. 3D model of the Legacy Deposit from historic resource estimate* The true thickness of the copper/silver deposit varies from 30 metres to 50 metres, with mineralization occurring over large intervals. The mineralized zone has been delineated at surface over a distance of about 200 metres and drilled to a depth of 400 metres, and it remains untested below that depth. Puma plans to complete follow-up work on the historic drill-hole intersections showing significant copper/silver mineralization over long intervals. It will also use the same proven low-cost exploration strategy, used at the Williams Brook Project, to identify new prospective targets on the property. Highlights from Historical Drilling* In 1970, drill hole No. 17 returned a continuous section of 59.34 metres @ 1.22% Cu with three (3) important copper-bearing skarn zones: 1) 3.16 % Cu over 11.28 metres from 152.40 to 163.68 metres; 2) 1.84 % Cu over 10.42 metres from 167.64 to 178.06 metres; 3) 1.22% Cu over 13.47 metres from 188.98 to 202.45 metres. The gold potential at Legacy was never assessed, although Hole MC-92-20 returned 4.00 m of 0.26% Cu, 6.08 g/t Ag, and 3.07 g/t Au from 43.00 m to 47.00 m downhole. Puma's detailed data compilation will study the metals zonation at Legacy and assess its copper/silver/gold potential. *Independent Technical Report for the Legacy Project, Restigouche County, New Brunswick, Canada, Marek Nowak, Peng, Chris Barrett, CGeol, Tessa Scott, B.A., Effective Date: June 22, 2015 . Use of Proceeds and Details The gross proceeds of the FT Shares sold under the FT Offering will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) which qualify as a 'flow-through mining expenditure' for purposes of the Income Tax Act (Canada) related to the exploration program to be conducted on properties located in the Province of New Brunswick. MBM will renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2025. The proceeds of the FT Offering will be used for data compilation, issuing a new 43-101 compliant technical report, targeting, and excavation operations to locate drilling targets at Legacy. The fieldwork program will cost at least $150,000. Murray Brook Minerals paid $12,250 finders fee to arms-length finders. The FT Offering constitutes an 'Exempt Transaction' under the policies of the TSX Venture Exchange. All securities issued under the FT Offering will be subject to an indefinite hold period in accordance with applicable securities laws. About Puma's Assets in New Brunswick Puma has accumulated an impressive portfolio of prospective gold landholdings strategically located close to roads and infrastructure in Northern New Brunswick - the Williams Brook Project and the McKenzie Gold Project. Both are located near the Rocky Brook Millstream Fault ('RBMF'), a major regional structure formed during the Appalachian Orogeny and a significant control for gold deposition in the region. Puma's work to date has focused on the Williams Brook property, but prospecting and surface exploration work on its other properties have confirmed their potential for significant gold mineralization. Qualified Person The scientific and technical content of this press release has been prepared, reviewed, and approved by Mr. Dominique Gagné, P. Geo., Vice President of Exploration, who is a 'Qualified Person' as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ('NI 43-101'). About Puma Exploration Puma Exploration is a Canadian-based mineral exploration company focused on finding and growing a pipeline of precious metals projects in New Brunswick, near Canada's Famous Bathurst Mining Camp. Puma has a long history in Northern New Brunswick, having worked on regional projects for over 20 years. Puma's successful exploration methodology, which combines old prospecting methods with detailed trenching and up-to-date technology such as Artificial Intelligence, has facilitated an understanding of the region's geology and associated mineralized systems. Armed with geophysical surveys, geochemical data and consultants' expertise, Puma has developed a perfect low-cost exploration tool to discover gold at shallow depths and maximize drilling results. Murray Brook Minerals (MBM) is a wholly owned subsidiary of Puma. The private company is focused on identifying prospective projects in Northern New Brunswick that could be monetized to the benefit of Puma shareholders. Puma is committed to its DEAR business model of Discovery, Exploration, Acquisition and Royalties to generate maximum value for shareholders with low share dilution. Connect with us on Facebook / X / LinkedIn . Visit for more information or contact: Marcel Robillard, President and CEO. (418) 750-8510; president@ Mia Boiridy, Head of Investor Relations. (250) 575-3305; mboiridy@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve several known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to rely on these forward-looking statements, which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to update or revise any forward-looking statements publicly. The quarterly and annual reports and the documents submitted to the securities administration describe these risks and uncertainties. Figures accompanying this announcement are available at
Barnama
26-05-2025
- Politics
- Barnama
ASEAN Youths Urge Action On Digital Literacy, Climate Change
Malaysian representative and Malaysian Youth Council (MBM) President Mohd Izzat Afifi Abdul Hamid (fourth left) delivers the ASEAN Youth statement at the ASEAN Leaders' Interface with Representatives of ASEAN Youth, held today in conjunction with the 46th ASEAN Summit at the Kuala Lumpur Convention Centre. --fotoBERNAMA (2025) COPYRIGHT RESERVED KUALA LUMPUR, May 26 (Bernama) -- Youths across ASEAN have called for urgent efforts to strengthen digital literacy and tackle climate change, identifying both as critical pillars for sustainable development and a greener future. Malaysian youth representative Izzat Afifi Abdul Hamid said these issues received strong and encouraging feedback from ASEAN leaders, who expressed hope that the region's youth would take a more proactive role in shaping ASEAN's development, in line with ASEAN Vision 2045. 'We focused on youth development in a joint statement prepared by ASEAN youth representatives since last Wednesday,' he told reporters after the 4th ASEAN Leaders' Interface with Representatives of ASEAN Youth, held on the sidelines of the 46th ASEAN Summit here today. Izzat Afifi, who is also Malaysian Youth Council president, said the statement was well received, with leaders responding positively to the recommendations put forward by the youth delegates. During the session, which was attended by Prime Minister Datuk Seri Anwar Ibrahim along with ASEAN leaders and youth representatives, Izzat Afifi delivered the joint statement titled 'Youth for a Sustainable Future: Empowering Inclusion and Driving Change in ASEAN', outlining nine key points to enhance youth development across the region. Also present were Youth and Sports Minister Hannah Yeoh and Deputy Minister Adam Adli Abdul Halim. Meanwhile, Michelle Ann M. Villanueva of the National Youth Council of the Philippines expressed appreciation for the opportunity to elevate youth voices at the regional level. 'We are heard, we matter, and it is just an amazing experience because the people in the highest positions - those involved in policymaking and decision-making for every country in ASEAN - were there, and they heard what we had to say,' she said. The 46th ASEAN Summit is being held under Malaysia's 2025 Chairmanship, themed 'Inclusivity and Sustainability.'
IOL News
26-05-2025
- Business
- IOL News
South Africa grapples with crude oil supply risks as financial strain hits Natref refinery
The South African National Petroleum Company (SANPC) is the newly established State-Owned Company formed after the merger of three of the Central Energy Fund (CEF) subsidiaries, Igas, PetroSA and Strategic Fuel Fund. Image: Supplied Banele Ginidza As South Africa grapples with an increasing dependence on fuel imports, the National Petroleum Refiners of South Africa (NATREF) refinery in Sasolburg has raised alarm bells over its future sustainability. Sipho Mkhize, chairman of the South African National Petroleum Corporation (SANPC), on Friday outlined the financial strain faced by the only inland crude oil refinery, which is reliant on material transported via the Single Buoy Mooring (SBM) in the Indian Ocean off Durban. The backdrop to this crisis is the shutdown of Durban's local refineries, which has severely reduced SBM utilisation by 80%, leading to soaring operational costs for NATREF. Mkhize warned that if these financial pressures continue unabated, NATREF may have to cease operations, which would place an overwhelming burden on South Africa's petroleum supply chain "These financial strains could force the refinery to close, making South Africa dependent on imports to grow to 85% of its petroleum needs and increasing vulnerability and security of supply risks," Mkhize said. He was speaking at the launch of the SANPC, which has been formed through the merger of three Central Energy Fund (CEF) subsidiaries, i.e. iGas, the Strategic Fuel Fund (SFF), and PetroSA. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Currently, the nation imports around 75% of its fuel; a closure of the refinery could push this figure to a staggering 85%, significantly increasing the risk of supply vulnerabilities and security risks. In response, Mkhize disclosed plans for converting the existing SBM into a Multi-Buoy Mooring (MBM), which would enhance flexibility in liquid bulk handling within the Durban Precinct. This strategic move aims to alleviate the throughput bottlenecks currently crippling the NATREF refinery. Additionally, Mkhize stated that SANPC will seek directives to obtain leases for sites linked directly to the refinery from the Transnet National Port Authority (TNPA) to bolster operations further. Mkhize said the SANPC would reach out to the Ministers of Minerals and Petroleum Resources, Transport, and Forestry, Fisheries, and the Environment for the applications aimed at laying a foundation for a national energy champion that will be capable of delivering long-term value. "SANPC is not just another company. It is a national asset. It is the embodiment of the government's vision for a modernised, integrated, and impactful energy sector player," he said. "South Africa needs a strong and agile energy company to be able to respond to the energy challenges faced by the country as well as advancing the key components of the National Development Plan." Mkhize also emphasised the importance of establishing a State-owned independent terminal operator, which would manage port facilities to ensure equal access to berths. This strategy aims to counteract the agenda of International Oil Companies (IOCs) and prioritise supply security, thereby enhancing system integrity. The SANPC's recent acquisition of the dormant SAPREF refinery, capable of producing 180 000 barrels of oil per day, signals a pivotal moment for South Africa's energy landscape. If revitalised, this facility could contribute significantly to national energy production or serve as the foundation for constructing a mega refinery with the capacity to process between 450 000 to 600 000 barrels daily. This shift would further diversify energy sources and reduce the country's reliance on imported oil. Mineral Resources and Petroleum Minister Gwede Mantashe reiterated the urgency of addressing the declining local refining capacity. He noted a significant shift since 2009, with fuel imports rising 11% year-on-year, predominantly driven by a diminishing local refinery output against a backdrop of growing demand for refined products. In 2022, local refining accounted for less than 35% of consumed finished products, a sharp decline from the approximately 80% in 2010.
The Hindu
13-05-2025
- Business
- The Hindu
How is the shipping industry tackling emissions?
The story so far: After a decade of deliberations towards decarbonising the maritime industry, at its 83rd session, the Marine Environment Protection Committee (MEPC-83) of the International Maritime Organization (IMO) was faced with the challenge of coming to a consensus on a proposed emissions levy on global shipping. The session's objective was to adopt a Market-Based Measure (MBM) that balanced environmental effectiveness with economic fairness. What were the proposals? Five distinct proposals were tabled in the meeting. The first was by the International Chamber of Shipping which advocated for a fixed levy per every tonne of CO₂ emitted. Secondly, China proposed a market-driven approach where ships could trade compliance units and invest in alternative fuels. The European Union suggested a fixed Greenhouse Gas (GHG) levy, managed by an IMO-administered fund while India propositioned a 'bridging mechanism', which would target only under-compliant ships to bear the financial burden, while rewarding those using Zero or Near-Zero (ZNZ) fuels. Finally, Singapore also joined the fray by proposing an enhanced version of India's model, involving a GHG Fuel Standard (GFS) and a tiered system rewarding surplus emission units and requiring the purchase of remedial units for underperformance. Even before the debate on MBMs could fully unfold in the IMO, geopolitical tensions took centre-stage. The U.S. Trump administration, which had already withdrawn from the Paris Agreement and stripped the agency that responds to disasters from their climate work related responsibilities, did not participate in the IMO deliberations. It warned of 'reciprocal measures' if the EU-backed uniform carbon levy were passed. What was decided? The MPEC-83 of IMO voted 63 to 16 in favour of accepting Singapore's hybrid model based on India's proposal as the IMO's Net Zero Framework, making international shipping the first global industry to adopt a mandatory emissions levy framework. Having piloted a compromise formula amidst extremely divergent views, both India and Singapore have claimed credit for the successful outcome. However, the decision of the MEPC-83 is not final yet. Despite the vote, the path to implementation is far from straightforward. The MEPC-83's decision, having approved the Net Zero Framework, now needs to amend Annex VI of the MARPOL convention, which governs air pollution from ships. The amendment will undergo a six-month circulation period among all contracting parties to MARPOL. For final adoption, it requires a two-thirds majority of votes from members present and voting; this means that if all 101 parties participate, at least 67 must support the measure. Even if adopted, the amendment could still be blocked, should one-third of the parties — provided they account for at least 50% of global shipping tonnage — formally object in writing. Currently, with 63 votes in favour, 16 against, and 22 abstentions, the outcome remains uncertain. The process ahead is critical and could reshape the dynamics of global shipping regulation for decades to come. What other interests were at play? The wide range of positions expressed during the MEPC-83 underscores the enduring dominance of national interests in global climate diplomacy. Oil-exporting countries, led by Saudi Arabia, opposed any significant transition to green fuels, prioritising the protection of their fossil fuel markets. In contrast, small island nations and least developed countries advocated for steep carbon levies, seeking to redirect revenues into broader green development initiatives. Moreover, China, along with other large shipping nations, pushed for minimal levies to preserve competitiveness while focusing on investments in cleaner fuels. Norway and other Scandinavian countries have been seeking recognition for their early and costly efforts in decarbonising shipping, proposing that these efforts be rewarded through surplus credit systems. Brazil has been advocating for a rapid shift to methanol as a primary marine fuel, while several nations, citing a lack of viable green technologies, hoped for delayed implementation. Even after voting, scepticism has lingered among shipowners in traditional maritime powerhouses like Greece, who question the necessity and feasibility of a green levy altogether. The range of these responses illustrates the immense challenge the IMO faces in crafting a universally acceptable emissions framework. Why does green shipping matter? Shipping may seem invisible to most consumers, but it plays an outsized role in global emissions. The sector emits approximately one billion metric tonnes of GHG each year, representing about 2.8% of total global emissions. If ranked as a country, international shipping would be the sixth-largest emitter in the world, between Germany and Japan. Projections indicate that, without corrective action, emissions from shipping could rise by as much as 50 to 250% by 2050. Even though the sector contributes less than road transport emissions, they face heavier regulatory pressure because of their international nature. Therefore, to align with the 13th UN Sustainable Development Goal as well as the Paris Agreement, the IMO began implementing emissions-reduction measures in 2011, followed by the Initial GHG Strategy in 2018 and the updated IMO GHG Strategy in 2023. It has also included a technical measure such as the Energy Efficiency Design Index in Annex VI of the MARPOL convention; an operational measure, the Ship Energy Efficiency Management Plan, for reduction of GHG emissions from ships; and introduced mandatory recording and reporting of fuel oil consumption. Consistent with the 'Paris agreement temperature goals' it has also adopted 'levels of ambition' and 'guiding principles'. Between 2018 and 2023, it has agreed to fix a target for reducing carbon intensity (CO2 emissions per transport work) by at least 40% by 2030 compared to 2008 levels, and by 70% by 2040, ultimately achieving net-zero by 2050. This is notably more concrete than the International Civil Aviation Organization, which has only pledged a 'long-term aspirational goal' of net-zero emissions by 2050 without setting interim targets. Is it an equitable distribution? There has been a gradual erosion of the guiding principle of 'common but differentiated responsibilities and respective capabilities' (CBDR-RC) incorporated in the 2018 initial GHG strategy. The CBDR-RC is a core principle enshrined in climate agreements like UNFCCC, Kyoto Protocol and the Paris Agreement. It acknowledges that all nations must address climate change but recognise historical responsibility and unequal capacities. Developed nations, with their longer industrial histories, are expected to bear greater burdens. However, recent IMO proceedings reflect an effort by wealthier nations to shift responsibility onto developing economies, despite stark differences in income and consumption. How does India benefit? While the carbon levy and GHG targets set by the IMO may pose short-term challenges for certain sectors of the Indian economy, India is likely to emerge as a long-term beneficiary of the new MBM framework. According to the United Nations Conference on Trade and Development, the impact of the MBM on India's maritime logistics costs will be modest in the near term — ranging from 4.98 to 7.29% on imports and 5.92 to 8.09% on exports by 2030. By 2050, these figures are projected to rise to about 33 to 35%. However, the actual impact on trade volumes is expected to be minimal. India currently operates nearly 236 ships over 5,000 gross tonnage, with only 135 involved in international voyages. Since MBMs apply only to international shipping, India's coastal fleet remains unaffected. At present, India spends roughly $400 million per year on fuel for its international fleet. The MBM is projected to increase this by approximately $108 million by 2030 — a manageable rise given the scale of India's maritime economy. Perhaps the most exciting implication of the MBM framework is the potential for India to become a global hub for clean energy exports. As the world's third-largest importer of fossil fuels, India is now investing heavily in green hydrogen through its National Hydrogen Mission. Industrial giants such as Reliance, Adani, and JSW are planning to scale up production, while three Indian ports are preparing to offer green hydrogen bunkering services. Under the mission's guidelines, Indian green hydrogen must meet a well-to-wake greenhouse gas fuel intensity of no more than 2 kg CO₂e per kilogram of hydrogen, translating to about 16.7 grams of CO₂ equivalent per megajoule. This standard positions Indian hydrogen well within the IMO's reward thresholds, which are capped at 19.0 g CO₂e/MJ until 2034 and 14.0 g CO₂e/MJ thereafter. This alignment creates a significant opportunity for India to export green fuels globally and capitalise on international incentives. Global shipping now stands at a transformative moment. Despite persistent disagreements and uncertain implementation pathways, the adoption of a MBM by the IMO represents a milestone in the journey toward decarbonisation. If successful, this framework could make shipping the first truly global sector to operate under binding climate goals, setting a powerful precedent for others to follow. Amitabh Kumar, a retired IRS officer, is former Director General of Shipping, Government of India. Views expressed are personal.
