Shipping’s Decarbonization Target Seen Costing At Least $1 Trillion

By Jonathan Saul LONDON, Jan 20 (Reuters) - At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed. The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other … [Read more...]

Shipping Execs Advocate Carbon Levies to Fund Fuels of the Future

By Roslan Khasawneh SINGAPORE, Nov 1 (Reuters) - Executives at some of the world's top shipping groups are advocating a levy on carbon emissions on shipping in an effort to shape tightening rules on greenhouse gas emissions while providing a means to fund development of cleaner fuel sources. "To meet international shipping's decarbonization challenge, the maritime industry … [Read more...]

How the Trade War and a Changing China Are Roiling Global Shipping

By Ann Koh and Serene Cheong (Bloomberg) --The trade war and China’s economic shift made 2018 a tough year for global shipping and will continue to reverberate through the industry, according to the United Nations Conference on Trade and Development. Maritime shipping volumes grew just 2.7% to 11 billion tons last year, UNCTAD said in its annual review of the maritime … [Read more...]

UK Urged to Include Shipping and Aviation in Net Zero Emission Goal

By Susanna Twidale LONDON, Sept 24 (Reuters) - The aviation and shipping sectors should formally be included in Britain's target to cut its greenhouse gas emissions to net zero by 2050, the government's climate advisers said on Tuesday. Britain earlier this year became the first G7 country to set a net zero emission target although the shipping and aviation sectors were not … [Read more...]

Shipping Sets Course for Zero Carbon Vessels, Fuel by 2030

By Jonathan Saul LONDON, Sept 23 (Reuters) - Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2. International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s … [Read more...]