Coronavirus: Fallout may derail decarbonisation

Source: Lloyd' List Originally published on: 31/03/2020 The effect and duration of the coronavirus outbreak is being woefully underplayed according to Mark O'Neil. In his view, the suggestion that the world will stick to existing decarbonization plans is reflective that people are not awake to the scale of change the business world is about to see

Columbia Shipmanagement chief executive believes decarbonisation will probably not be a priority after coronavirus. Nations around the world will be struggling for an economic revival

Decarbonisation could take a back seat after the coronavirus pandemic is resolved and governments focus on rebuilding their economies, while uncertainty about future regulations is making shipowners “terrified” of ordering new ships.

The effect of the outbreak is being remarkably underplayed and making plans now for decarbonisation agendas may be premature, according to Columbia Shipmanagement chief executive Mark O’Neil.

“I don’t think that shipping is in any place yet to decide on a decarbonisation timeframe and alternative fuels until we see what the landscape looks like and the appetite looks like, post this pandemic,” he said on Monday during a panel discussion on decarbonisation at the Capital Link International Shipping Forum, which this year was held as a digital event. The length of time and depth of the downturn created by this pandemic is also being woefully underplayed, said Mr O’Neil, whose firm is the fifth largest shipmanager in the world in terms of vessels managed. Full article here