AMET Business School

United States

AMET Business School

United States
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Dorathy M.B.C.,AMET Business School
International Journal of Civil Engineering and Technology | Year: 2017

Shipping industry plays a dominant role in the development of world economy by facilitating international trade. It is the only efficient mode of transport for bulk cargo. Over the years this industry has been scaling up the size of its vessels to achieve economies of scale and to bring down costs. Consequently we now have supersize ships that can carry up to 18000TEUs. Even though shipping is the most energy efficient mode of transport it is highly polluting. Ships emit nitrogen oxides (NOx), sulfur oxides (SOx), carbon dioxide and particulate matter (PM) into the atmosphere. Few developed countries, including the United States, the United Kingdom and Norway, limit the sulfur content of marine fuel in their national waters to within 1,000 parts per million (p.p.m.). Most developing countries, including India and China, permit dirtier fuels with 35,000 p.p.m. of sulfur. But notwithstanding the slower rate of growth in maritime trade, experienced since 2008 economic crisis, the sector's total CO2 emissions are projected to continue growing. Under such circumstances the Shipping industry has started adopting greener practices to ensure environmental sustainability. At this juncture this paper makes an attempt to highlight the new business opportunities that might arise when shipping transforms into green shipping. © IAEME Publication.

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