Page No. 99 - 109: Innovation – Technology – Regulatory Regime – Green Shipping Global Diversity of Expectations

Abstract

The shipping sector faces unprecedented challenges from regulatory regimes to meet ambitious and zealous environmental objectives. Given its global scale, there is a need to bring in a voice of reason on what is achievable and how to go about it from those that will eventually be tasked to actually implement these goals. The challenge is therefore to innovate to bring in better efficiency. Such innovation promises much needed reduction in industry’s carbon footprints creating a convergence of environmental goals with commercial incentives.

The question will be whether the investment in such innovation be worth the combined savings in fuel and environmental costs. And how can the industry manage these global diversities of expectations and contradictions?