The need to upgrade ships in line with new environmental rules represents a billion-dollar dilemma for the industry as it faces a range of commercial and technical risk factors that will determine whether retrofits for alternative fuels will be worth the investment.
It is estimated that investments of as much as $182 billion will be required on ship machinery and onboard storage for ships to run on low-carbon fuels, both for retrofits and newbuilds, between 2030 and 2050 in order to halve...