Industry reports this week have speculated that maritime industry discussions on decarbonisation are shaping up to result in “the mother of all BAF’s” for shippers
as carriers will seek to pass on the costs of using significantly more sustainable fuel option, and invest in new, cleaner vessels.
The International Maritime Organization (IMO) is set to meet in July and is widely expected to increase its target of a 50% reduction in carbon emissions by 2050 to 100%, and will also discuss market-based measures, such as a carbon levy.
To achieve the new target, the maritime sector will need to invest heavily in the technology needed, with some of these processes already under way, with methanol testing, ammonia and LNG all a possibility.
