ShippingWatch

Climate change has already cost shipping billions every year

The effects of climate change already cost the shipping industry several billions of dollars annually. But the bill may increase further if the industry doesn’t act and take far-reaching steps to reduce carbon emissions, warns environmental organization in new report.

Photo: Daniel Reinhardt/AP/Ritzau Scanpix

Inadequate efforts to curb climate change may have catastrophic repercussions for the shipping and port industries.

Rising sea levels, tropical storms, floods, drought and extreme heat can lead to infrastructural damage, not least at ports, to such an extent that the industry risks losing up to USD 25bn per year by the end of the 21st century.

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