IMO Secretary-General Arsenio Dominguez emphasized the global shipping industry's need for significant investment in technology and alternative fuels to achieve a net-zero transformation and drive sector-wide change at the Blue Economy Finance
IMO Secretary-General Arsenio Dominguez emphasized the global shipping industry's need for significant investment in technology and alternative fuels to achieve a net-zero transformation and drive sector-wide change at the Blue Economy Finance Forum in Monaco, June 8.
The global shipping industry is preparing for a net-zero transformation that will have a sector-wide impact on everything from supply chains and business models, to ships, ports and the maritime workforce.
IMO approved new regulations for net-zero ship fuels and emissions in April, set for adoption in October. Calls for investments in decarbonization are getting louder.
This includes investing in scaling up production of alternative fuels in large enough quantities to replace the 350 million tons of fuel oil currently burned by ships each year.
Upgrading port infrastructure and bunker operations will also be required to safely provide clean energy for ships when they call at ports around the world.
Early movers are already taking action. According to the World Shipping Council, there are at least 200 ocean liners (container ships) already in operation that can run on zero or near-zero emission fuels (ZNZ fuels), while close 80% of all new orders for container ships and vehicle carriers will have the same
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