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Climate change to hit shipping industry most-I: Severe pain ahead
Nov 04: Nothing will hit the shipping industry harder than global warming.
8It is estimated that if temperature rise has to be confined to 2 degrees by the end of the century, the carbon emission budget for the shipping industry as a whole has to be pegged to 33 Gt from now to the year 2050, assuming that the shipping industry is responsible for 2.33% of global CO2 emissions.
8After taking into account, the a secular rise in shipping traffic over this time period, it is estimated that the industry will have to go through an extremely painful process of  bringing down the operational CO2 intensity (gCO2/tnm) by a multiple of 10 by 2050.
8The scale of the challenge is mind boggling and it remains a big uncertainty how the industry is going to face up to it.
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