The International Maritime Organization (IMO) is grappling with a deep divide over its Net-Zero Framework, which proposes a global fuel standard and emissions pricing for ships. Supporters view it as essential for decarbonization, while opponents, including the U.S., criticize it as a “global carbon tax,” raising concerns about economic impacts.
A new report warns that the maritime industry’s decarbonization goals are jeopardized without urgent action. Released by the Environmental Defense Fund and Lloyd’s Register, it identifies over $1 trillion in investment gaps threatening climate objectives. Innovative financing strategies, like the Maritime Multiplier and Time Stacked Offtake, are essential for attracting necessary capital.
The “IMO Net-Zero Framework” outlines a dual strategy for the shipping industry, focusing on a global fuel standard and emission pricing. With urgent calls for investment in technology and alternative fuels, it mandates that international ships evolve their practices over time, emphasizing the need for upskilling the maritime workforce by 2030.
A recent I-Tech study reveals that over one-third of 685 surveyed vessels had barnacle biofouling covering more than 10% of their hulls. This fouling significantly increases fuel consumption and emissions, costing the global fleet an estimated $15 billion annually. Effective antifouling coatings, like Selektope, are crucial for mitigating these issues.
Since starting his second term, President Trump has imposed new tariffs, including a 25% duty on imports from Canada and Mexico. Analysts warn that these tariffs could suppress freight demand and raise costs for consumers. Historical data suggests businesses may rush imports to avoid tariffs, impacting the global shipping industry significantly.
France-based CMA CGM, the world’s third largest container shipping company, is set to hire Indian seafarers directly through an entity in India. This move, to be announced during Prime Minister Narendra Modi’s visit to Marseille, aims to build a specialized pool of seafarers for the company’s ships with specific requirements.
AMET University celebrated its 14th Convocation on January 4, 2025, honoring Capt. Thanuvelil Koshy Joseph with an Honorary Doctorate for his contributions to maritime education. Capt. Joseph’s leadership at Training Ship Rajendra and LBS College has shaped the careers of many maritime professionals. The event highlighted AMET’s role in nurturing future maritime leaders.
The global shipping industry is grappling with a shortage of skilled seafarers, leading to fake resumes, accidents, and higher freight charges. Geo-political events like the Russian-Ukraine confrontation have worsened the situation, affecting the availability of experienced seafarers. Addressing this crisis is crucial due to its impact on safety and the global supply chain.
