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Countries at an IMO gathering in London voted to push back for a year a decision on whether to make ships start paying for the more than 1 billion tons of greenhouse gases they emit each year. 

Nations are at an International Maritime Organization meeting in London to decide on landmark regulations to make vessels start paying for their greenhouse gas emissions.

The International Maritime Organization will this week decide on sweeping new rules to make the sector start paying for the more than 1 billion tons of greenhouse gases it emits each year.

Diesel prices kept rising on June 17 as concerns about Middle Eastern supplies — a consequence of the Israel-Iran conflict — piled pressure on an already tight market.

The U.S. abandoned global talks aimed at cutting shipping’s carbon emissions and threatened to counter against any fees that the country’s merchant fleet incurs if the initiative proceeds.

Governments from across the world gather in London this week to thrash out a landmark global carbon charge for the shipping industry. There’s optimism that Washington won’t derail the process.

Shipping giant A.P. Moller-Maersk A/S expects the industry’s global regulator next year to approve a charge on vessels’ greenhouse gas emissions.

Shipping’s carbon emissions climbed by 23 million tons in the first half of this year, partly as vessels took longer routes to avoid attacks in the Red Sea.

Commodities giant Cargill Inc. is looking to add wind-power capability on future cargo ships, after experimenting with sails that made a large vessel greener.

A surge in shipping costs due to turmoil in the Red Sea is pressuring Europe’s diesel supply chain, contributing to a sharp jump in fuel prices.