Shipping companies propose crash program to reduce CO2

[Recursion]

https://www.hellenicshippingnews.com/shipping-companies-propose-crash-program-to-reduce-co2/

A group of eight trade organizations that collectively represent 90% of the world’s merchant fleet have proposed a collaborative shipping research and development program to help eliminate CO2 emissions from international shipping.

Their plan includes funding the program with $5 billion over a 10-year period.

The shipowner groups said they are seeking to accelerate the development of commercially viable zero-carbon emission ships by the early 2030s.

The groups making the proposal include organizations that represent a broad base of shipping companies – BIMCO and the International Chamber of Shipping – as well as groups that represent particular sectors of the shipping industry: the World Shipping Council, which represents the container liner industry; Cruise Lines International Association; Interferry; Intercargo, which represents dry bulk carriers; Intertanko, which represents tanker operators; and the International Parcel Tankers Association.

That's some great news.

[calimary]

1. I hope we see A LOT more of this.

[Amishman]

2. I doubt this is their being altruistic

New rules are in place that forces shipping to use low sulfur fuels. What they must now burn is closer to home heating oil in formulation, and significantly more expensive.

[Recursion]

3. I never care about intent

Impact is all that matters