What Price Change??? 6 cents?
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Last week saw the release of a joint study done by Harvard University in collaboration with the Universities of Birmingham and Leicester, along with University College of London. In it, they stated that in 2018 more than 8 million people died due to fossil fuel emissions or nearly 20% of all deaths worldwide.
The public is demanding change, but at what price? Estimates range up to 1 Trillion dollars for the shipping industry to meet the goal of 50% reduction in emissions by 2050. As is our practice, this cost will ultimately be born by the consumer—which, as stated by Maersk CEO, would roughly translate to 6 cents per pair of sneakers.
Last week also saw the state of Texas immobilized by cold weather leading to a failure of their power grid system with damage expected to be in the billions, not to mention over 60deaths. The cause of the outage was not spending the money necessary to winterize their electrical sources.
Everything has its price, but what price change? We know we have to move forward to decarbonize; we know we need to invest in technology and training. We know that we are in the crosshairs of society, investors and financial institutions to make the leap.
Isn’t it worth 6 cents?
Carleen Lyden Walker
Chief Evolution Officer
IMO Maritime Ambassador
|News of the Week|
February 24, 2021click on topic to jump to that sectionDeep Dive: Fuel AlternativesDecade of DecarbonizationDeep Dive: Safety on the High SeasSHIPPINGInsight updates
|Deep Dive: Fuel AlternativesThe great contenders: The case for hydrogen and ammonia as bunker fuels2021-02-14- The debate around the use of hydrogen and ammonia as future marine fuels is growing, but we still need answers to questions on issues such as availability. . . READ MORE|
Maersk will operate the world’s first carbon neutral containership by 2023 in big methanol breakthrough2021-02-17- Maersk today officially fast-tracked its decarbonisation plans, with a methanol-fuelled 2,000 teu feeder vessel set to be ordered this year. . . READ MORE
Decade of DecarbonizationDecade of Wind Propulsion campaign aims for ‘rapid’ decarbonisation2021-02-17– The International Windship Association (IWSA) is spearheading a ‘Decade of Wind Propulsion’ campaign to accelerate the adoption of hybrid alternative. . . READ MORE
Source: Seatrade Maritime News
Six cents per pair of sneakers: what consumers will pay for shipping to go green2021-02-22 – What will be the cost to consumers of shipping going green? About six cents per pair of Vietnamese made running shoes, according to the boss of the world’s largest. . . READ MORE
GLOBAL: LACK OF REGULATORY FRAMEWORK ‘HOLDING UP’ DECARBONISATION INVESTMENT2021-02-22 – The lack of a clear regulatory framework on which shipowners and operators can base their investment decisions is holding up the energy transition and. . . READ MORE
Source: BUNKERSPOTDeep Dive: Safety on the High SeasCrystal Joins Other Lines Requiring Passenger COVID Vaccinations2021-02-18– Crystal Cruises became the first of the ocean going cruise lines based in the United States to announce that it will require all passengers to be fully inoculated with a COVID-19 vaccine. . . READ MORE
New DNV GL white paper looks to close looming safety gap2021-02-17– DNV GL, the world’s leading classification society, released a white paper – “Closing the safety gap in an era of transformation” – at a press conference today. The white paper identifies a looming. . . READ MORE
Source: SHIP Management InternationalSHIPPINGInsight Updates
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|2021 Partner Spotlight|
SHIPPINGInsight is pleased to be welcoming Total Marine Solutions as a partner. They will be joining us as we bridge the decade with fleet management and maritime technology.
For partnership and exhibiting information, please contact
Stella Ludovicy (firstname.lastname@example.org)For more information on the conference, please contact
Carleen Lyden Walker (email@example.com)
or call +1 203 255 4686www.SHIPPINGInsight.com