Shipping leaders along with prime ministers and presidents of the world are preparing to jet into Glasgow over the weekend for the start of the much hyped COP26, a major international climate summit.
Determined to present shipping’s green credentials in the best possible light in front of regulators and campaigners descending on Scotland’s largest city, shipowning lobby group, the International Chamber of Shipping, has organised a high level conference to be held on November 5.
However, shipping’s emissions will still face more scrutiny at this year’s COP than ever before especially in light of new data revealed today in the October edition of Splash Extra.
The extraordinary trading conditions for many sectors in shipping in 2021 have seen ships speed up, as well as a huge portion of the fleet forced to idle off congested ports. These twin factors – speed and congestion – have seen emissions rise again this year and the carbon intensity of the industry rise for the first time in many years whereby shipping’s portion of total global emissions has also increased.
Splash Extra looks at this unfortunate reverse for shipping’s green aspirations and asks leading experts how the industry can best mitigate emissions in the short-term during market gyrations such as those experienced this year.
Elsewhere in the subscription title there is a revamped markets commentary section and our regular S&P roundup while this month’s in-depth feature looks at how electric vehicle demand will transform the dry bulk trades. Electric vehicles require roughly six times more minerals than their internal combustion engine cousins, something that will have significant impacts on the bulk seaborne map in the coming years.
Published on the last Wednesday of every month and priced for as little as $200 a year, Splash Extra serves as a concise monthly snapshot, ensuring readers are on top of where the shipping markets are headed.