Retrofitting necessary for meeting net-zero requirement
Replacing old vessels with newbuilds with the aim of switching to green fuel is financially unfeasible. As such, a greater degree of focus is needed on retrofitting vessels in order to live up to a zero-emissions requirement by 2050, writes Lloyd's Register in new study.
It makes little financial sense to merely replace old end-of-life vessels with new ones in order to live up to the net-zero requirement in 2050.
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