Shippers want cheap freight rates, shipowners need ships on the water to trade today, and regulators want an agreed approach on technology, fuels and distribution; these are the conflicting factors container shipping is faced with as it tries to set course for zero-emissions.
On the regulatory front, John Butler, President And CEO, World Shipping Council, speaking at TPM21, said that the industry faces a complete change of direction in about the lifespan of a typical vessel. The necessary engineering work to create appropriate technology needs to take place alongside development of a regulatory and policy structure to both drive change and ensure the shipping industry can continue to operate in the transition period.