A super typhoon has disrupted shipping in southern China and Taiwan over the last few days, forcing port closures and diversions. No marine casualties have yet been reported, but on shore the toll is significant, including 14 dead in a levee failure in Taiwan.
The shipping industry needs massive investments if it wants to transform its fuel supply and set a clear path to net zero emissions. United Nations Trade and Development (UNCTAD) estimates that it will cost between $8 billion and $28 billion annually to decarbonize ships by 2050. The cost shoots up exponentially when the necessary infrastructure is taken into consideration.