This is why energy efficiency remains the fastest and most cost-effective way to reduce emissions, particularly in the early phase of the coming decade.

COSTS ARE DISTRIBUTED ACROSS THE VALUE CHAIN

Decarbonisation is also a major financing challenge, with costs distributed across multiple stakeholders rather than being carried by a single party.

Shipowners are primarily responsible for vessel investments and onboard operational systems, including fuel-related decisions and energy efficiency technologies. Charterers and cargo owners are increasingly sharing costs through green shipping agreements, where the emissions profile directly influences pricing and contract terms.

Port operators and infrastructure providers are investing in parallel in shore power systems, alternative fuel bunkering solutions, and new energy infrastructure enabling the use of fuels such as methanol, hydrogen, and ammonia. The public sector and EU-level funding instruments support this transition, particularly through pilot projects and infrastructure investment schemes, although the primary responsibility remains with market-based actors.

Financial markets have also become a key driver. Green loans, ESG-linked financ-