Green shipping

The maritime industry's poor environmental performance has long constituted a big reputational challenge. Despite being the most efficient mode of transport, the maritime shipping sector generates two to three percent of the annual global greenhouse gas emissions, in addition to other air pollutants. The IMO sulfur cap was introduced in January 2020, forcing ship operators either to switch to cleaner fuels or to undergo expensive scrubber retrofits. Only a couple of months later, the COVID-19 pandemic compounded the economic difficulties faced by shipping companies to adjust to the new regulations while at the same time upending the bunker fuel market. In July 2020, the Mauritius accident brought under the spotlight the problem of ship-related oil spills, showing the high level of risk the industry still carries despite the huge improvements seen in the past few decades. Through a mixture of coercive and mimetic isomorphism, the sector seems to have finally set foot in the right direction.