Last year the International Maritime Organization, recognising the slow progress the sector had made, set ambitious targets to reduce shipping emissions by at least 50% by 2050 compared to 2008. Companies started lining up to face the challenge. But the shipping sector is very energy intensive. Bunker fuel costs can account for 24 - 41% of total shipping costs, so any clean fuel transition must be competitively priced. The fact that alternatives … [Read more...]