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Shipping industry looks for consensus on sustainable fuels ahead of net-zero goals

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MONTREAL — Global shippers are convening in Montreal to sort out which sustainable fuels their vessels should use — a key question given that boats built today will still be running in 2050.

At the annual International Chamber of Shipping summit today, chairman Emanuele Grimaldi said different fuel types make sense for different vessels, but that governments, producers and the transport sector need to reach a consensus on green energy.The global industry group, which represents over 80 per cent of the world's merchant fleet, is calling for a levy on maritime greenhouse gas emissions to encourage adoption of renewable fuels.

However, Grimaldi says governments need to push for greater supply, given the lack of sustainable fuels as the organization aims for net-zero emissions "by or around 2050." The chairman also highlighted rising protectionism and global strife as barriers to maritime trade that ultimately push up costs for consumers.

 

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