EMEA News
ICS 'Weather' Report Sounds Alarm on Alt Fuels Lack of Regulatory Clarity
Shipping's nervousness surrounding new bunker fuels would be addressed by a clearer regulatory path, a new report from International Chamber of Shipping has found.
The uncertainty over the provision of new fuels, both in terms of their availability and the infrastructure required for delivery, have emerged as a key concern of shipping players canvassed in the report.
While the shipping industry's understanding of the complex implications of the energy transition is "maturing", the practical implications of new greenhouse gas reduction regulation remain its biggest worry, according to ICS.
"Delays in government decision-making will have far reaching consequences for the shipping industry as key choices regarding supply chain resilience, greenhouse gas reduction measures (including carbon pricing, alternative fuel availability and the provision of new onshore bunkering infrastructure) will determine how the industry evolves over the next decade," said ICS chairman Emanuele Grimaldi commenting on the report's findings.
"Make no mistake, shipping and maritime will be at the heart of many of the changes that the coming decade will bring," he added.
The ICS Maritime Barometer Report is an annual survey of risk and confidence among maritime leaders.
