On Friday, some 20 years of decarbonisation work at the International Maritime Organization culminated in a historic agreement, with countries voting 63-16 in favour of an emissions fuel standard with a built-in carbon price.

If it Is formally adopted in October, this will be the first binding global carbon price on any industry; a genuinely momentous achievement that will change the future of shipping.

What they’ve come up with is highly complex and is going to take the industry a while to fully digest.

But fear not, we have three brave experts willing to help make sense of it and tell us, hopefully, what comes next.

Marie Fricaudet is a senior research fellow at the UCL Energy Institute

Aoife O’Leary is a lawyer, economist, and the chief executive of Opportunity Green

And Rico Luman, a senior sector economist at ING Bank

The MEPC post-mortem

Lloyd’s List is the world’s leading source of insight, analysis and data for shipping businesses and professionals

New tracks tagged #mepc