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For decades, the shipping sector has been incorporated into the global decarbonization process. At present, global shipping - as a whole - aims to reduce its emission levels by 40 % by 2030 in relation to the 2008 level. In reducing greenhouse gas emissions, regulations such as the MARPOL 73/78 Convention and Energy Efficiency Design Index as well as other monitoring and managing schemes already in operation (e.g., Ship Energy Efficiency Management Plan and Energy Efficiency Operational Indicator) play a crucial role in measuring fuel consumption and ship engine emission output. Energy Efficiency Existing Ship Index (EEXI) is another measure, projected to be ratified in 2023, in-line with decarbonization targets in which the International Maritime Organization has planned a 70 % reduction in emissions level by 2050 using the same 2008 baseline. For this to happen, ship speed may need to be reduced, a decrease of fleet capacity may also need to be considered, and new ships may need to replace older ones already in service. The costs of implementing these types of reforms are obviously significant to the sector. Such change will augment the overall shipping overhead, effecting subsequent transportation and consumer costs. This paper aims to specify the scale of the expected costs of implementing EEXI globally. The current maritime fleet has been analyzed in terms of energy demand, deadweight tonnage, and expected CO2 emission reduction marginal abatement costs (MAC). Two pathways to achieve the desired EEXI values are presented, including the most common and available technologies to reduce demand. These technologies are subjected to MAC valuation and presented quantitatively for the world fleet. The research also investigates alternative fuel options in regard to lessening the CO2 impact, developing wind support systems, and avoiding conventional advancements to ships (e.g., upgrading the propeller or the propulsion system). At length, the target of the work is t

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") and OLDENDORFF Carriers GmbH & Co. KG ("OLDENDORFF") today announced an agreement to use wind propulsion to further reduce CO2 emissions in Teck's supply chain. The joint investment will see the vessel Dietrich OLDENDORFF, which carries shipments of Teck steelmaking coal from the Port of Vancouver, outfitted with a FLETTNER Rotor system by mid-2024.