During the Forum’s “Pathway to Green Shipping” panel discussion, Trifon emphasised how decarbonisation in shipping is being driven at high level by consumer emotions, especially so in more mature economies. This consumer sensitivity cascades into political action, regulations, and international policy, directly impacting our industry.
Shipping companies must respond, with no surprise container lines being at the forefront due to their closer ties to consumer demand. Trifon also highlighted the importance of co-ownership of the challenge to reduce emissions, citing the establishment of green corridors and how industrial giants are looking for ways to scale up the market fundamentals of green fuels.
Our journey now is passing through choppy waters. The spectre of inflation could dampen consumer willingness to pay for sustainability, potentially causing policy setbacks. Shipping companies, particularly in Asia, may find themselves playing catch-up due to differing legal pressures. Europe’s aggressive climate targets impose an ultimatum to both regulatory and non-regulatory stakeholders, adapt or risk obsolescence.
In this transformative phase, we leverage on our expertise to guide market participants through adaptation, focusing on making existing fleets more efficient, exploring carbon finance opportunities, and encouraging a future-proof approach. The discussion stressed the wise investment to avoid stranded assets, with the winning companies being those who incorporate flexibility into their business models.
The green shipping era is not just on the horizon—it’s here now, and it’s time to set sail smartly!