12/05/2023at 11:39

Major bank predicts massive price tag for shipping's green transformation

Shippers are facing a particularly large bill for the industry’s upcoming climate mitigation efforts, according to bank UBS.

by DANIEL LOGAN

The shipping industry is heading for a greener future, entailing extra costs in the range of hundreds of billions dollars for carriers, shippers and end users.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Multiple major shipping liners lack plans for green fuels
For subscribers
Nordic shipowners: EU subsidies for green transitioning must not favorize foot-dragging carriers
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Foto: Daniel Reinhardt/AP/Ritzau Scanpix

Regulation

EU sharpens demands for shipping's CO2 emissions ahead of decisive IMO meeting

The EU nations propose new intermediate targets for the shipping industry’s climate plan towards 2050, including an aim to have 10 percent of fuels coming from sustainable sources in 2030.

For subscribers

”I believe that what we see in the US and also a bit in Europe in different ways is that industrial policy from the side of the government is getting increasingly important," said Maersk CEO Vincent Clerc (left) in a discussion with Danish business minister Morten Bødskov on Danish Shipping's annual day. | Foto: Carsten Lundager

Regulation

Vincent Clerc: Only state intervention can ensure the green transformation

For subscribers

Bulk

Ulrik Andersen exits Golden Ocean with no job lined up

For subscribers

Carriers

Svitzer and unions land eleventh-hour deal

For subscribers

Tanker

Singapore in record clampdown on tankers as dark fleet grows

Tanker

BW Epic Kosan to refinance ships with sustainable loan

For subscribers

Ulrik Andersen steps down as CEO of Golden Ocean

The board of the Norwegian bulk carrier has appointed the company’s chief commercial officer as Andersen’s successor.

For subscribers

Regulation

EU sharpens demands for shipping's CO2 emissions ahead of decisive IMO meeting

The EU nations propose new intermediate targets for the shipping industry’s climate plan towards 2050, including an aim to have 10 percent of fuels coming from sustainable sources in 2030.

For subscribers

Container

CMA CGM completes acquisition of French shipping company

The French container and logistics operator intends to use freight and passenger shipping company La Méridionale for a ”green corridor” in the Mediterranean.

For subscribers