Environment

For the first time, all shipping companies calling at EU ports will have to measure and publicly report carbon emissions under a law approved by an overwhelming majority of the European Parliament’s Environment Committee. Sustainable transport group Transport & Environment says that the law is weak – it only monitors fuel consumption instead of directly reducing it, and only covers CO2 and not air pollutants like SO2 or NOx – but it can still trigger fuel savings indirectly.

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The melting of sea ice presents opportunities for international marine transportation networks in the Arctic. Recent discoveries of oil and the potential financial and time savings are making the Arctic shipping routes more appealing to the shipping industry. Two viable Arctic sea routes exist, enabling ships to move between the Atlantic and Pacific Oceans, thus cutting the distance between East Asia and Western Europe.

These new routes offer viable alternatives, but they are not without risk. Extreme climate and weather conditions create unique hazards, including floating ice, thick fog, and violent storms. Despite new safety features, vessels remain vulnerable to ice damage, machinery breakdown, and more. The harsh environment also creates challenges for crews, few of which have been trained for or have experience in such conditions, according to insurance broker and risk adviser Marsh.

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