The illustration of the massive progress in cruise ships indeed evokes a sense of unbounded optimism. This trend is also evident in the evolution of modern cargo ships, which have grown significantly in size and capacity.
However, all good times may come to an end. The International Maritime Organization (IMO) has recently announced ambitious and, in my view, unrealistic decarbonization targets. The entire shipping industry is required to cut emissions by 30% by 2030, 70% by 2040, and achieve net-zero by 2050. Non-compliance with these targets will result in substantial penalties: a $100 per tonne CO2 tax for slight non-compliance and a $380 per tonne tax for significant non-compliance.
These targets seem overly stringent and impractical. I had not anticipated such aggressive measures from the IMO, which has historically maintained a relatively laissez-faire approach. For context, the EU economy is already struggling with a carbon price of $60-70 per tonne. The IMO's new regulations could either force a reconsideration of these targets or risk disrupting the global trading order.
Excellent FOC crew wages research in relationship to the research by the Stella Maris Seafearer group philanthropic ports, worldwide. Also note the S/s United States held the Blue Ribbon Trophy for fastest transatlantic voyage too. (Cite USMMA.)Propulsion transition from Steam to MV Diesel onward to LNG, with harder testing academics for Chief Engineer & Master Mariner licenses, thank you IMO addressing the SOLAS, Safety of life at Sea concerns. I recall a old 80s article in Lloyds Maritime, "Little Ships Bigger Problems - Bigger Ships, Less." Not recalling the vessel/port drafts issues as a concern back then for ship owners. If they want our customers, the ports will reinvest was the attitude. How times have changed, just buy an island. Cheers, Nice work. J
I just want to comment to say please keep posting these articles on Substack. I would like to find time to read WIP much more often, but it slips my mind. If it’s right there in the Substack app I can get it where I go to read articles anyway. Thanks.
The illustration of the massive progress in cruise ships indeed evokes a sense of unbounded optimism. This trend is also evident in the evolution of modern cargo ships, which have grown significantly in size and capacity.
However, all good times may come to an end. The International Maritime Organization (IMO) has recently announced ambitious and, in my view, unrealistic decarbonization targets. The entire shipping industry is required to cut emissions by 30% by 2030, 70% by 2040, and achieve net-zero by 2050. Non-compliance with these targets will result in substantial penalties: a $100 per tonne CO2 tax for slight non-compliance and a $380 per tonne tax for significant non-compliance.
These targets seem overly stringent and impractical. I had not anticipated such aggressive measures from the IMO, which has historically maintained a relatively laissez-faire approach. For context, the EU economy is already struggling with a carbon price of $60-70 per tonne. The IMO's new regulations could either force a reconsideration of these targets or risk disrupting the global trading order.
Excellent FOC crew wages research in relationship to the research by the Stella Maris Seafearer group philanthropic ports, worldwide. Also note the S/s United States held the Blue Ribbon Trophy for fastest transatlantic voyage too. (Cite USMMA.)Propulsion transition from Steam to MV Diesel onward to LNG, with harder testing academics for Chief Engineer & Master Mariner licenses, thank you IMO addressing the SOLAS, Safety of life at Sea concerns. I recall a old 80s article in Lloyds Maritime, "Little Ships Bigger Problems - Bigger Ships, Less." Not recalling the vessel/port drafts issues as a concern back then for ship owners. If they want our customers, the ports will reinvest was the attitude. How times have changed, just buy an island. Cheers, Nice work. J
I just want to comment to say please keep posting these articles on Substack. I would like to find time to read WIP much more often, but it slips my mind. If it’s right there in the Substack app I can get it where I go to read articles anyway. Thanks.
Seconded; if I can't get a WIP magazine delivered to my door, Substack is the next best thing, and I will definitely forgot to check elsewhere.