In 2024, emissions from container ships worldwide surged by 14%, reaching 240.6 million tons of CO₂, far surpassing the previous record of 218.5 million tons set in 2021. However, the shipping industry isn’t solely to blame.
Main cause? Escalating conflicts in the Red Sea since December 2023 have forced vessels to reroute around the Cape of Good Hope, making journeys longer and emissions higher. Additionally, a spike in import demand pushed carriers to “speed up”, resulting in an 18% increase in overall transport work (a measurement of tons of cargo moved multiplied by nautical miles sailed) in 2024.
With 176 member states of the International Maritime Organization (IMO) gathered in London to discuss ways to “green” the shipping industry – which currently accounts for nearly 3% of global greenhouse gas emissions.
Major debate broke out:
👉 Over 60 countries from Europe, Asia, Africa, the Pacific, and the Caribbean supported a carbon tax ranging from $18 to $150 per ton of CO₂-equivalent emissions from commercial vessels – with revenues directed toward helping vulnerable nations tackle climate change.
👉 Another group of 15 countries including China, Brazil, and Saudi Arabia opposed the carbon tax, arguing it would raise the cost of goods (such as palm oil and grains), threatening food security.
👉 The EU shifted its stance, now backing a carbon credit trading system based on global maritime fuel standards instead of a direct carbon tax.
👉 Meanwhile, the U.S. remained silent.
“It’s hard to predict the outcome,” said Fanny Pointet, Director of Sustainable Shipping at Transport & Environment (T&E). But clearly, despite financial pressure, emission reductions must become a core part of long-term strategies for shipping companies.
