Net zero for Asia maritime sector comes at high price

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ATTAINING net zero emissions in the logistics sector will come at a high price for Asia’s maritime industry through massive investments and expensive shipping costs, according to experts from the Asian Development Bank (ADB).

Disruptions force vessels to reroute, clogging port infrastructure and access to ships and containers, thereby increasing shipping costs,” the authors said.

Among the major disruptions were the Covid-19 pandemic; geopolitical events in the Red Sea; Russia’s war in Ukraine; and the low water levels in the Panama Canal caused by climate change.“The first immediate ripple effect is on shipping costs.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: PhilippinesNorwayPanamaUkraine

Topics: Sector Experts Asia Asian Maritime Zero Countries Emissions Percent Shipping Costs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-04 @ 16:06:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 836 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 25892327

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 79 posts per day

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News Last Updated: 10 hours ago

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