As the shipping industry is responsible for around 2-3% of global carbon emissions, its contribution to climate change cannot be ignored. But the global shipping industry finds itself facing substantial challenges as it works to meet ambitious decarbonisation targets. Moody’s has explored this in depth: why can’t shipping decarbonise now?
One of the promising alternatives to fossil fuels is methanol, in which the global shipping industry is investing. Today, 99% of methanol production is based on coal and natural gas. However, DTU (Danish Technical University) scientists have developed a green method for producing biogas-based methanol. Is green methanol on the verge of breakthrough?
Maersk and IBM have announced they will discontinue their work on their TradeLens blockchain platform. The platform, under development since 2018, will go offline by the end of Q1 next year. But why did TradeLens lose the battle in the container shipping industry?
Global supply chains have seen unprecedented disruption, and container freight rates are at record highs. Shippers continue to face acute shortages of vessel space, container boxes, warehouse space, intermodal capacity, and labour.
In an effort to attract larger shippers, Maersk is expected to announce that it will only handle cargo from direct shippers from 1 November, cutting out freight forwarders.
A shipping industry trade group representing over 80% of the world’s merchant fleet has proposed a bold new plan to help the industry achieve net zero CO2 emissions by 2050, doubling the ambition of the International Maritime Organization’s target. he International Chamber of Shipping (ICS) submitted plans to the industry’s Read more…