Container ships and bulk freighters are pictured in the shipping lanes off the coast of Singapore, as the Singapore Flyer observation wheel is seen in the foreground, March 13, 2009. REUTERSPIX: The United Nations warned Tuesday that carbon emissions from shipping were growing, calling on the vast industry to scrap old, polluting vessels and upgrade infrastructure to speed up its green transition.
“That number is heading in the wrong direction,“ UNCTAD chief Rebeca Grynspan told reporters ahead of the launch of the agency’s annual report on maritime transport. But Tuesday's report warned that the dire global economic outlook, coupled with surging borrowing costs and regulatory uncertainties, would likely hamper the investments in new ships needed to reduce greenhouse gas emissions.
“For the last two years, the maritime industry has suffered from tremendous disruption,“ Grynspan said. The sector is expected to see moderate growth this year of 1.4 percent, and for the period from 2023 to 2027, maritime trade is expected to see 2.1-percent annual growth on average, she said.