World News
Lack of Global Regs, not Cost, Slowing Uptake of Green Ship Tech: Report
A lack of consistent global environmental regulations is slowing the update of green technologies in shipping, according to a new study by global law firm Clyde & Co and the Institute of Marine Engineering, Science & Technology (IMarEST).
Over two thirds (68%) of the 220 global marine industry executives surveyed believed lack of uniform international environmental regulations "will impede the adoption of green technologies in shipping."
"A fundamental concern for the industry is that the absence of a convention, or even a non-preemptive existing legal framework, leaves the field open to additional and potentially inconsistent regulations by different jurisdictions," the report said.
Cost is often cited as a barrier to the adoption of such technology, so perhaps surprisingly the research found 64% of participants think that green technologies will not place an unacceptable cost burden on ship operators.
Among the other findings from the report was that 73% believe that fuel availability will strongly drive the market for energy management solutions.
The full report can be viewed here: https://online.flippingbook.com/view/1037246/6-7/
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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