But groups such as the Coalition for Responsible Transportation oppose the mandatory slow steaming.
“With slow steaming being such a long-established feature of the industry, it is questionable how much slower containerships can go,” said Drewry.
“For the owners of the cargoes, shippers, the prospect of slower services and potentially higher freight rates is not so appealing, although many of them too are under pressure from their own customers to support a greener agenda,” Drewry said.
For carriers, Drewry said it might be expected that carriers would support more slow steaming so long as the full marginal cost of the added vessels was supported, but it noted that container carriers have not embraced the concept of mandatory speed limits
Maersk, in a statement has said " Whilst it can be argued that reducing ship speeds reduces fuel consumption and thus CO2, speed reductions are not an appropriate solution for Maersk and the container sector in general," and that "Mandatory speed reductions will favor old, inefficient ships in service and remove the incentive to engage in efficiency improving innovation."
Maersk says decarbonization can only be achieved through a strong research and development effort and there are only two ways to achieve it, either through related prescriptions or economic incentivization penalizing GHG emissions. Two steps are needed at IMO. First step is to raise a fee for R&D, second step is the introduction of a carbon price."
IMO has set out a goal “to reduce CO2 emissions per transport work, as an average across international shipping, by at least 40% by 2030, pursuing efforts towards 70% by 2050 compared to 2008.”