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ICS report shows potential risk for decarbonisation targets

According to the International Chamber of Shipping (ICS) Maritime Barometer Report 2022-2023, uncertainty about fuel availability and infrastructure puts decarbonisation targets at risk, emphasising the need for a clear plan of action to manage risk.

The first ICS Maritime Barometer Report is the first comprehensive yearly study of maritime leaders' risk and confidence.

More than 130 C-suite decision makers, half of whom are shipowners and 35% of whom are ship managers, have offered insight into the challenges that are preoccupying them and how they are positioned to handle their effect.

Respondents' perspectives on decarbonisation issues show that the shipping industry's knowledge of the multifaceted implications of the energy transition is growing.

While the practical effects of new greenhouse gas reduction laws have remained the most urgent concern over the past two years, respondents' views on the fuel landscape have shifted. This involves a shift in perceptions of wind and nuclear power as viable energy sources.

Delays in government decision-making, according to the paper, will have far-reaching effects on the maritime sector. Government decisions on supply chain resilience and greenhouse gas reduction policies will shape how the sector evolves over the next decade.

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