While major shipping firms have demonstrated advancements in lowering the greenhouse gas emissions intensity of their operations, they are reportedly finding it challenging to achieve overall emission reductions. This observation emerged from an analysis of the latest annual reports from the world's ten largest maritime companies by market capitalisation, as reported by Hellenic Shipping News Worldwide.
All these prominent shipping entities have established net-zero targets, with timelines extending to 2050 or in some cases, earlier. However, despite these commitments and the progress in intensity, the sector's absolute emissions trajectory remains a concern.
The findings highlight the significant hurdles shipping companies face in their transition to low-carbon bunker fuels and the broader decarbonisation of their fleets.