UN Calls for More Investment in Low-Carbon Marine Fuels

by Ship & Bunker News Team
Tuesday November 29, 2022

Governments and industry should do more to promote sustainable shipping, the United Nations' trade agency has said.

In its Maritime Transport review for 2022, Unctad calls on governments and operators to "expand and upgrade port infrastructure... especially digitalisation" and for shipping companies to invest more in sustainable shipping.

With the current volatile nature of global trade, Unctad argues that the industry as a whole should be prepared for future shocks as they will impact costs.

"In an increasingly unpredictable operating environment, future shipping costs will likely be higher and more volatile than in the past," the agency said as the impact of higher costs is felt unevenly across the world.

In addition, the world's fleet is going in the wrong direction on greenhouse gases. With GHG emissions from shipping increasing "the world needs a new generation of ships that can use the most cost-efficient fuels and integrate seamlessly with smart digital systems".

However, uncertainty is slowing progress. The global commercial fleet grew by less than 3% in 2021 – the second lowest rate since 2005, according to Unctad. The agency said there should be more investment in energy-efficient shipping technology and low-carbon fuels.

Ship & Bunker News Team
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