Jack Wittels of Bloomberg reports on how the shipping industry is trying to reduce its emissions.
- Shipping’s regulatory body is pushing the industry to achieve net-zero greenhouse gas emissions by mid-century.
- Shipping, which carries more than 80 percent of the world’s trade, is almost exclusively reliant on fossil fuels like diesel and crude oil.
- One option that is being explored by shipping companies is ammonia which does not emit CO2 but can be potentially toxic for marine life.
- Another option is nuclear energy, which powers submarines, but faces issues of international regulations, concerns of nonproliferation, and potential public backlash.
“As of June, about half of ships on order — measured by gross tonnage — will be able to run on alternative fuels including LNG, according to ship-classification society DNV. Maersk is one of several shipping companies that have ordered methanol-capable vessels.”
Read the full article here.
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