Danish shipping giant Maersk has reduced fuel consumption and CO2 emissions by thirty percent by halving its container ships’ cruise speed over the past two years. The ‘slow is better’ approach flies in the face of time-driven ‘ship it quick’ services, but Maersk argues that it may be able to offer slow-shipping customers better rates thereby rewarding eco-friendly shipping choices.
The company's slow boat profitability experience has bolstered UN global shipping regulation discussions that could mandate energy efficiency and emissions trading schemes for maritime companies.
Photo: Gordon Welters - NYT
Slow Boat Profitability
Reduced Speed Ups Maersk Profits, Downs Eco-Impact
Trend Themes
1. Reduced Speed Shipping - The trend of reducing cruise speed in container ships presents an opportunity for eco-friendly shipping choices and reduction in fuel consumption.
2. Energy Efficiency in Maritime Industry - The focus on reducing fuel consumption and CO2 emissions in the maritime industry creates opportunities for innovative energy-efficient solutions.
3. UN Global Shipping Regulation - The discussions on energy efficiency and emissions trading schemes for maritime companies could disrupt the industry and lead to more sustainable practices.
Industry Implications
1. Shipping and Logistics - The shipping and logistics industry can explore reduced speed shipping as a way to optimize fuel consumption and reduce environmental impact.
2. Alternative Energy - The alternative energy industry can provide innovative solutions to improve energy efficiency in the maritime sector.
3. Environmental Regulations - The implementation of UN global shipping regulations can create opportunities for companies specializing in compliance and sustainability consulting.