In Hong Kong, Manifold Times reports Angad Banga of maritime conglomerate The Caravel Group called on global shipping to act with urgency in the wake of the IMO’s postponement of its Net-Zero Framework. Speaking at the World Maritime Merchants Forum, Banga urged shipowners, regulators, and financiers to move forward without waiting for perfect clarity. “If we wait for perfect clarity, we will lose ground,” he said.
Banga, who also chairs the Hong Kong Shipowners’ Association and the Promotion and External Relations Committee of the city’s Maritime and Port Development Board, positioned Hong Kong as a launchpad for maritime decarbonisation. He pointed to the government’s Green Maritime Fuel Bunkering Action Plan and recent LNG bunkering operations as early steps. By week’s end, he said, three LNG bunkering operations would have been completed alongside cargo handling.
Hong Kong shipowners control nearly 10 percent of global merchant fleet tonnage, and four of the top ten ship management firms are based in the city. Banga urged the industry to explore tools such as sustainability-linked loans, Stablecoins, and the digital yuan to finance the transition.
Fragmented rules, he warned, risk creating stranded assets. What the sector needs now is coordination, supply chains, and shared costs.
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Category: Sustainable Marine Fuels
