Publication details
The report is produced by UMAS and UCL Energy Institute.
This report was commissioned and funded by the Global Maritime Forum. This report was authored Deniz Aymer (UMAS). Many thanks to Dr Nishatabbas Rehmatulla (UCL) and Dr Domagoj Baresic (UCL) for their technical input and to Dr Tristan Smith (UCL), Joe Boyland (GMF) and Elena Talalasova (GMF) for their review and feedback.
Summary
Green shipping corridors—first mover initiatives that seek to advance high-ambition solutions for zero emission shipping on dedicated trade routes—face significant commercial challenges. In the absence of regulation or direct support from governments, the private sector currently lacks either the ability or appetite to bridge the cost gap. However, this is changing. The EU’s ‘Fitfor55’ package and IMO’s upcoming mid-term measures will mandate and incentivise shipping’s energy transition. Government funding for low emission fuel projects has started to flow and a need for demand-side support has been acknowledged. Across shipping’s sub-sectors, a combination of such measures could crystallise the business case for a green shipping corridor.
Authors
- Deniz Aymer (UMAS)