Although the shipping industry is only at the start of a unprecedented investment program around fleet renewal ($1 trillion of newbuild orders this decade?) and shoreside infrastructure to deal with emissions reduction, this week’s Analysis features extracts from our latest Fuelling Transition series profiling important progress so far in uptake of Alternative Fuels, ESTs, “Eco” engines, scrubbers and port facilities.
As we reach mid-year, our latest review of the shipping market context is now available for download. With mid-year data points now available, our aim with this briefing is to continue to provide a framework to help understand and monitor the huge impacts of Covid-19 in the shipping market context. The review also includes analysis of a range of newly developed high frequency and near time data, including a new Summary Tracker that will be updated each week.
Three weeks ago, Shipping Intelligence Weekly considered the effect of global efforts to moderate climate change, and the potential maritime impacts of ‘energy transition’ and decarbonisation (see SIW 1,422, 15th May 2020). This week’s Analysis continues the story, looking at scenarios for the future shape of energy production offshore which may play out as patterns of world energy use evolve.
In our March semi-annual report, we cited satellite imagery of reduced pollution as economic activity slowed as a “stark reminder of climate change”. In this week’s Analysis, we look at some of the challenges (and opportunities) the shipping industry potentially faces with its cargo base, changes in offshore activity and in reducing its own emissions footprint through fuel transition, technology and regulation.
Hard to believe it’s only six months since we reported the sanctions driven “super-spike”, and harder still to think it’s…