Cutting energy costs and supply chain pressures will be the major drives for the shipping industry to cut its carbon emissions.
The shipping industry’s growth and the rise of living standards around the world puts the industry’s carbon emission under scrutiny.
Shipping has long being one of the world’s 'invisible industries’ – but its carbon emissions are now bringing it under the glare of critical scrutiny. Relatively speaking, Ships are climate change friendly.
Over the last 40 years, technological advances and economies of scale have cut energy consumption dramatically. Today’s articulated lorry pumps out about 50 grams of CO2 per kilometre for each tonne of goods carried. Aeroplanes account for at least 10 times as much. Nearly 80% of global trade by volume is transported by sea, with some 53,000 vessels clocking up over 50 trillion tkm a year.
The industry’s relentless growth looks set to continue as long as the global population keeps increasing, as well as living standards around the world. By 2040, all other things being equal, the carbon footprint of shipping could easily double, and the shipping industry, so long an 'invisible industry’ operating far beyond most people’s horizons, is now coming under intense scrutiny.