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The world is uniting to tackle climate change and accelerate action towards more sustainable ways of living. We are playing a key role in guiding the maritime industry through this green transition, to maximise the shipping industry decarbonisation impact on the environment, whilst continuing to meet the demands of global trade and energy markets.

This page has been updated in line with the July 2023 MEPC80 announcements.

TIMELINE

Extensive regulation is increasing the pressure to decarbonise

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2023

IMO Short Term

 

EEXI and CII are IMO directives requiring significant energy efficiency improvements in the existing fleet taking effect January 2023.

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2024

EU ETS

 

Shipping to be included in the EU ETS carbon trading system.

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2025

FuelEU Maritime

 

EU regulation to limit the yearly average GHG intensity of energy used on-board a ship sailing from and/or to EU Ports.

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2030

Firm Reduction Targets

 

EU: 40% reduction in carbon emissions relative to 2018 levels.

The IMO: Reduction in total GHG emissions by at least 20%, striving for 30%, compared to 2008 levels.

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2040

Indicative checkpoint

 

The IMO: Reduction in total GHG emissions by at least 70% striving for 80%, compared to 2008 levels.

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2050

Zero-Emissions

 

EU targets zero emissions from shipping by 2050 while the IMO aims to reach net-zero GHG emissions (taking into account different national circumstances).

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Timeline for implementation

MEPC80 mid-term measures

At MEPC 80 (July 2023), the IMO implemented a comprehensive impact assessment to analyse the economic consequences of so-called "mid-term policy measures" which will be completed by Autumn 2024. We've created an overview timeline to show the roll-out of the measures, against the backdrop of a wider greener shipping evolution.

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Accelerating maritime decarbonisation

The road to 2030

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INSIGHT

The necessity for change

The shipping industry must meet this challenge while continuing to facilitate essential global trade.

Read more about the road to 2030
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INSIGHT

Short-term measures

CII will have a growing impact in terms of dictating vessel speeds to improve energy efficiency

Read more about CII
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INSIGHT

Fuelling transition

Although shipping's huge fleet renewal programme is in its infancy, we are already seeing tiered markets develop.

Read more about the road to 2030
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POSITIVE CHANGE

“Our industry will see fundamental change as we accelerate towards 2030”

Andi Case
Chief Executive Officer

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The regulations

Understanding the IMO Directives

 

CII provides a permitted threshold to the emissions of a vessel in a given year. In 2023, around 33% of the global fleet will be D-E rated.

To date, 25% of the total fleet tonnage has been fitted with energy saving technologies to help meet EEXI values.

25% of the fleet have been fitted with ESTs

 

Source: Clarksons Research

What is EEXI and CII?
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THE REGULATIONS

Understanding the IMO Directives

Today the world fleet is trading ~17% slower than in 2008. The CII is expected to help force parts of the fleet to trade slower still.

Source: Clarksons Research
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INSIGHT

Shipping produces 2.3% of global CO2 emissions

Since 2008 shipping has reduced its emissions by 18% and remains the most carbon efficient mode of transport. Now regulation and policies will drive further vital progress.

 

Grams CO2 per tonne-km

Source: Clarksons Research
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CASE STUDY

Helping our clients to navigate the impact of CII

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THE SCALE OF THE CHALLENGE

2.3%

 

Shipping's share of global CO2 emissions

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THE SCALE OF THE CHALLENGE

855mt

Estimated amount of CO2 produced by the world shipping fleet in 2021

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THE SCALE OF THE CHALLENGE

85%

of global trade is carried on ships

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Green transition

The need to decarbonise the shipping industry has been gathering pace

Clarksons Green Transition

View the green transition timeline
DECARBONISING SHIPPING

Pressure to decarbonise

The shipping industry accounts for 2.3% of global CO2 emissions, and the necessity to cut is rising. Decarbonisation pressure is channelled through environmental policy measures, stakeholder requirements and expectations from the wider society. There is a mounting direct pressure on shipowners to decarbonise, accelerated by shifted market dynamics and stricter access to capital as cargo owners and financial institutions raise the environmental bar.

Find out more about shipping industry decarbonisation
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What does this mean for the maritime industry?

Immediate but careful consideration needs to be given to ship design, engine technology and fuel selection, as operational flexibility, charter attractiveness and asset valuations can be heavily impacted.

Shipowners should act now to minimise carbon risk and be positioned to seize commercial opportunities. The industry will not change over night, but starting today will lay the foundations for a successful maritime decarbonisation transition.

Find out how we can help with your shipping decarbonisation strategy
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We empower people, inside and outside our company to make better decisions and to take positive action towards decarbonising shipping, leading towards a more sustainable planet.

ACTION

Strategize and execute

The Green Transition team is focused on helping our clients through the challenges of decarbonising shipping. Having deep understanding of regulations and abatement options, we develop shipping decarbonisation strategies and identify commercial opportunities while minimising business impact. As a collective group, our service lines across ship broking, chartering, research, port services, offshore and renewable energies and investment banking enables us to provide a 360 maritime service.

Green Transition Services
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Climate Partners

Cleaner decisions through technology partnerships

We partner with several technology providers who provide tools and software to help ship owners, operators and charterers to better understand, monitor, reduce and offset their carbon footprint.

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IN ACTION

Progressing towards 2030 carbon intensity reduction targets

Whilst shipping is the most emissions efficient mode of transport, there is an increasing impetus towards shipping decarbonisation.

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THE SCALE OF THE CHALLENGE

The necessity for change

The scale of the challenge to decarbonise shipping is unprecedented. And the shipping must meet this challenge while continue to facilitate essential global trade.

Read more about the road to 2030
Kenneth Tveter board room portrait
Kenneth Tveter board room portrait
Short-term measures

A growing impact

In 2023, both CII and EEXI will provide some of the clarity that ship owners have needed to help lower their emissions. CII will have a growing impact in terms of dictating vessel speeds to improve energy efficiency whilst other emission-reduction solutions are deployed.

Read more about the road to 2030
man talking and smiling at table, talking to someone
man talking and smiling at table, talking to someone
FUELLING TRANSITION

Newbuild trends have started to shift

At the heart of reducing shipping's 2.3% contribution to global emissions will be a fuelling transition. We're already seeing this materialise through the profile of newbuilding orders.

Read more about the road to 2030
News & insights

Driving the transition

Research Shipping & Trade Green Transition
News

Green Technology Tracker: Record Investments in Alternative Fuel

Clarksons Research have today released their latest Green Technology Tracker, including full year 2024 data points, charting the progress of alternative fuel uptake and investments in energy saving technologies across the global shipping fleet.

Click to read this article
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Insights

How are brokers helping to drive the fuelling transition?

How are ship brokers helping to drive the fuelling transition?

Click to read this article
Research Shipping & Trade Green Transition
News

Green Technology & Alternative Fuel Uptake

Clarksons Research have recently released their latest Green Technology Tracker, including first half 2024 data points, charting the progress of alternative fuel uptake and investments in energy saving technologies across the global shipping fleet.

Click to read this article