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Journal ArticleDOI

Shipping industry seems slow to turn to wind power

22 May 2023-Emerald expert briefings (Emerald expert briefings)-
TL;DR: In this article , the ETS cap to maritime transport emissions was applied for the first time, encouraging the shipping industry to abandon traditional fuels, and the phase-out of vessels that are non-compliant with new environmental regulations will force wholesale fleet renewal.
Abstract: Significance This applies the ETS cap to maritime transport emissions for the first time, encouraging the shipping industry to abandon traditional fuels. With bunker prices soaring (world average on May 18 was USD630/tonne) and a global target of net zero greenhouse gas (GHG) emissions by 2050, alternative ways are being sought to propel ships. Impacts The development of sail technology for container ships is still some way off. Innovative sail designs once proven in practice could spread rapidly across fleets. The phase-out of vessels that are non-compliant with new environmental regulations will force wholesale fleet renewal.
Trending Questions (1)
How is the esg impacting the shipping sector?

The provided paper does not mention anything about ESG (Environmental, Social, and Governance) and its impact on the shipping sector.