Shipping will need to spend up to $1trn in the next decade in replacing the existing fleet, but uncertainty over technologies and financing will hamper the industry's green transition, according to Clarksons Research.
It will cost $600bn alone to replace the existing fleet based on the normal assumptions of demolition and ordering activity.
This is according to Stephen Gordon, Clarksons Research's managing director, who presented the findings during TradeWinds' digital webinar, Investment in an Age of Uncertainty, on Thursday.
