"The pressure from customers and the
capital market is increasing - and rightly so. Maritime transport must pull out
all the stops to reduce its CO2 emissions.
Without modern shipping industry
there would be no globalization.
T-shirts and jeans would be not in the H&M
branch, at least not in the abundance that we know. Volkswagen cars would be not
parked in dealer parking lots. Because a large part of such goods and their
preliminary products come on freighters to factories and customers around the
world. The emissions from shipping are correspondingly high and must now be
reduced. The pressure on shipowners is increasing, and rightly so.
The Mærsk shipping group alone
earned more than $30 billion last year before interest and taxes.
Mærsk rivals
also made lavish profits in the post-Corona boom, while continuing to benefit
from subsidies in their home countries. The resulting financial cushion, which
consumers, freight forwarders and other major customers have helped to finance
through rising transport prices, now obliges shipowners to invest.
Customers like Ikea or Unilever are
already making a lot of steam. They are breathing down the necks of consumers
and the capital market demanding that supply chains get clean. At the same
time, the International Maritime Organization is planning stricter rules, as are
the EU and other global players. The leverage that their interventions can
achieve is great.
After all, shipping emits 2.5 percent of global greenhouse
gas emissions, as much as an entire industrialized country.
No one should underestimate the feat
that the conversion means.
The six medium-sized freighters that Mærsk has now
ordered and that are to run on clean fuel alone are likely to cost more than
half a billion euros.
In total, trillions are needed to renew the sector. The
customer will feel that too. Rising prices are unavoidable if ships are to emit
less CO2."
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