A rapid transition could lead to “premature scrapping” of over a third of the fleet, valued at over $400 billion, unless they undergo costly retrofits to remain competitive in the wake of new greenhouse gas (GHG) policies and wider energy transition, a new report shows.

Energy Institute Energy Institute Shipping Oceans Research Group Marie Fricaudet Green Marine Nishatabbas Rehmatulla Principal Research Fellow Student Growing Shipowners Retrofitting Uncertainty