Seaspan Corporation highlights the flawed business case for container shipping to achieve its decarbonization targets due to challenges in securing a reliable supply of green fuels. Torsten Holst Pedersen, COO of Seaspan, expressed concerns about the lack of alignment between demand and supply, emphasizing the need to make decarbonization economically viable. In contrast, Maersk expressed optimism about the momentum building around green methanol as an alternative fuel solution, and has placed orders for methanol-powered ships with actively pursuing green methanol projects. However, both companies acknowledged the need for greater fuel supply security and the development of market-based measures to bridge the cost gap between conventional and alternative fuels. The conference also highlighted the frustration faced by financial institutions in investing due to unclear regulations on green fuels. The International Maritime Organization (IMO) is expected to discuss carbon taxes and a global carbon levy during its upcoming meeting in July. Despite the challenges, the industry aims to cut carbon emissions and achieve full decarbonization by 2050, but Pedersen expressed doubts about the industry’s progress in meeting those targets based on the current order book.
