The spine of the international economy
Shipping is the spine of the international economy. According to the united Nations Conference on trade and development (UNCTAD), shipping is certainly the most effictive mode of goods transportation and transports almost 80% of the globe’s trade volume.
As the maritime industry’s progress carries on, carbon emission from shipping rises sharply.
Rising carbon emissions
In response to rising carbon emissions from shipping, the International Maritime Organization (IMO) has set a target to reduce the level of carbon emissions by at least 40% by 2030 and by 70% by 2050, compared to 2008 levels. To achieve this, the maritime sector must cooperate by taking essential measures and urgent actions.
Today, the maritime sector is striving to move towards a sustainable future. Consequently, international transport companies will have to make crucial decisions about the technologies and investments they need to make in order to maintain their competitiveness and leading position in compliance for many years to come. The maritime industry is facing an energy transition to reduce greenhouse gas emissions. Many renewable energies have been suggested to replace the use of fossil fuels like ammonia, biofuel, hydrogen, LNG, LPG, etc.