The competitive edge in maritime decarbonisation

"It is clear the shipping industry will become increasingly fragmented," he said. "The companies with the financial means to invest in alternative fuels will thrive, while those without the funds will struggle to survive. The top 10 container carriers already control 85% of total container capacity, with the top 5 controlling 65%. These companies have the resources to experiment and invest in new technologies, leaving smaller players at a distinct disadvantage.

"This disparity is particularly evident in the dry bulk sector, where the top 10 owners control 14% of their market. Those who can’t afford to invest in alternative fuels will be left behind."

For many in the industry, decarbonisation is both a boon and a burden, said Mr Lim. While it presents environmental and technological opportunities, it also poses the biggest problem of our professional lives. The days of simply bunkering for the cheapest price are numbered.