12SEP2019 - NEWS - Zero-carbon shipping to double freight costs

SHIPPING emission targets need to be brought forward a generation earlier than expected to meet world climate change goals, while freight rates will likely double during the transition to greener, zero-carbon marine fuels, an International Chamber of Shipping conference has been told.

Policy makers and climate change scientists outlined the challenges faced by owners and charterers of the world’s 60,000-vessel commercial fleet to decarbonise shipping, and the enormous scale and pace of change needed.