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Carriers say they are bearing the cost burden of the green transition
At an industry conference in Singapore, shipping line representatives said investments in alternative fuels and lower-emission vessels are falling on carriers, while shippers and forwarders remain unwilling to pay more.
Speakers at the Singapore International Bunkering Conference and Exhibition said shipping lines are absorbing the costs of moving toward greener shipping. The investments cited include alternative fuels and lower-emission vessels.
A Pacific International Lines representative responsible for operations and procurement in China, Chia Yujin, said shippers in price-sensitive markets are not yet ready to pay for the industry's transition. The report also said shippers and their freight forwarders remain reluctant to pay more for greener shipping.
No further details on the scale of the costs, timelines or specific measures were provided in the supplied text.
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