The current state of the shipping industry's green transition reveals limited adoption of alternative fuels across tanker and dry bulk sectors, with only 2.6 per cent and 3.5 per cent of newbuildings respectively utilizing alternatives since August 2024.
In contrast, containerships lead with 37.9 per cent of new orders incorporating alternative fuels such as LNG and methanol, despite an overall dominance of conventional fuel oil orders, which account for over 90 per cent of the orderbooks in tankers and dry bulk.
Amidst complex regulatory discussions within the IMO and a fragmented approach to net-zero frameworks, geopolitical tensions, notably from the US, may significantly hinder advancements towards sustainable shipping, risking further delays in the industry's transition efforts.