Challenges continue amid the supply chain crunch but the most important is to decarbonise shipping and reach for net zero, and for that, the industry needs cooperation and government help.
By extending its emissions trading system to shipping, the European Commission could unfairly tax intra-Asian trade and jeopardise multilateral efforts to reduce pollution. Instead, the EU should support the industry’s US$5 billion R&D fund to finance a decarbonised global fleet.
2021 will see the industry wrestle with the logistics of vaccinating 2 million seafarers. Governments and shipowners must also accelerate the move towards decarbonisation, agree on a framework to cut emissions, and prioritise the well-being of seafarers in any plan.