Decarbonization of shipping

European Union marine fuel rules, effective from Jan 1 as part of efforts to cut emissions, will raise shipping costs, although firms with vessels that can run on alternative fuels, such as biodiesel and LNG, will benefit, two shipbrokers said.

Environmental issues including the reduction of greenhouse gas emissions from ships will be at the center of the 82nd session of the International Maritime Organization's Marine Environment Protection Committee (MEPC) meeting in London through Friday.

Decarbonization of shipping will be on the radar more intensely than ever before at Posidonia 2024, the industry's biggest exhibition that will take place in Athens on June 3-7.

The industry, which will convene at the Metropolitan Expo center next to Athens International Airport, intends to debate ways of achieving sustainability targets set by new environmental regulations.