From a reputational standpoint, the shipping industry has moved beyond its formative years towards an increasing maturity. The industry as a whole is now in the process of positioning itself as a broad collection of responsible global actors.
Top of the agenda has been the insatiable demand for more responsible climate change policies given transportation generates approximately a quarter of energy related greenhouse gas (GHG) emissions globally and is the fastest rising source of emissions compared to other energy end-use sectors.
Without aggressive and sustained policy interventions, transport carbon emissions could increase by 70% by 2050 (outstripping all other sectors), which is politically and publicly unacceptable. Because the shipping industry moves about 80% of world trade volume, it comes as no surprise that the spotlight has finally turned in this direction. Over the past five years, the energy efficiency of cargo and container ships has become the subject of far closer scrutiny, and some big companies that charter them for transport have now vowed not to use vessels that perform poorly when it comes to fuel consumption or GHG, using efficiency rankings to steer financing decisions…
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