Shipyards have the capacity to meet IMO net zero targets -ClassNK

Global shipbuilding industry has the capacity required to meet IMO goals:Shipyards will need to handle 80 mn gross tonnage a year of newbuilds and retrofits between 2027 and 2040 to allow international shipping to meet International Maritime Organization (IMO) emissions goals, a capacity that is within the industry’s reach, according to a recent report (pdf) by Japanese maritime classification society ClassNK. Recently adopted IMO guidelines require 25% of the fuel used by international shipping to produce zero emissions by 2030, rising to 72% by 2040. Shippers will need to switch to newbuilds or retrofit existing vessels in order to bring to bear engines equipped to handle such fuels. The report was picked upby Splash.