Trafigura's Role in 'Greening' The Shipping Industry

The video discusses the challenges of decarbonizing maritime trade, which accounts for 3% of global CO2 emissions. The IMO has set regulations to reduce sulfur in fuel oil, aiming for a 50% emission reduction by 2050. Trafigura, a major player, is pushing for zero-emission fuels by 2030 and proposes a carbon tax to bridge the cost gap between fossil and green fuels. The industry is ready for this transition, with technologies available by 2025 and significant investment opportunities. Retrofitting ships for green fuels is feasible, and the transition is expected to phase out older fleets naturally.

What percentage of the world's trade is moved on ships?

What are the two types of fuels that vessels can use to comply with the IMO regulations?

What is the goal of the International Maritime Organization regarding emissions by 2050?

What is the significance of the First Mover Coalition in the context of shipping fuel transition?

What is the proposed carbon tax range suggested by Trafigura to help the industry transition?

What challenges do companies face regarding the availability of fuels for shipping?

What is the estimated cost to retrofit vessels to handle hydrogen-based fuels?