ShippingWatch

EU: Barriers halt shipping's environmental efforts

The EU Commission believes that various market barriers are keeping shipping from a serious reduction of CO2 emissions. Now EU will try to remove the barriers.

Photo: Torben Stroyer/Jyllands-Posten

Many of the initiatives that could provide shipping with a serious reduction of CO2 emissions are being blocked by various market barriers, says EU Climate Commissioner Connie Hedegaard.

“Many investigations show that a significant part of the initiatives launched to reduce the emission from ships will quickly be paid off through lower fuel consumption, which is the most important expense for the shipping companies. But oftentimes, these initiatives are not completed, mainly due to market barriers such as the so-called split incentives, in which investors don’t get a return on their investments, or when ports do not have a slot system for the arrival of ships to secure optimal speed,” Connie Hedegaard says to ShippingWatch.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

HHLA advances despite chaotic market

Port company Hamburger Hafen und Logistik has seen much progress this past half year despite ”major operational challenges” on a volatile market.

Borr Drilling seeks capital in the US

Tor Olav Trøim’s Borr Drilling searches for capital in the US and plans to issue shares on the New York Stock Exchange, a company statement reveals.

Latest news

See all jobs