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Box, bulk, cruise lines mull spending US$5 billion on R&D decarbonisation

EIGHT owner lobbies, representing 90 per cent of the world's merchant fleet, propose spending US$5 billion on research and development into decarbonising shipping, reports American Shipper

29 December 2019 - 19:00

EIGHT owner lobbies, representing 90 per cent of the world's merchant fleet, propose spending US$5 billion on research and development into decarbonising shipping, reports American Shipper.

A group has proposed a collaborative shipping research and development programme to help eliminate CO2 emissions from international shipping over a 10-year period.



The group includes BIMCO and the International Chamber of Shipping, World Shipping Council, Cruise Lines International Association; Interferry; Intercargo, Intertanko and the International Parcel Tankers Association.



In a joint communique, they said: 'International maritime transport carries around 90 per cent of global trade and is currently responsible for two per cent of the world's anthropogenic CO2 emissions. To achieve the Paris Agreement's climate change goals, rapid decarbonisation is vital - also for international shipping.'


WORLD SHIPPING

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