The World Bank has called for faster investment in effi cient ports, modern fl eets and low-carbon marine fuels to help East Asia and the Pacifi c shipping sector cut emissions and strengthen energy security.
Its latest report, Ports, Ships and Fuels: Maritime Effi ciency, Safety and Sustainability in East Asia and Pacifi c, says operational improvements, digital port systems and Just-InTime vessel arrivals could signifi cantly reduce fuel use, congestion and emissions.
The report highlights more than 99% of global marine fuel consumption still comes from fossil fuels.
The World Bank estimates that upgrading ports between 2025 and 2040 will require about $180 billion, while fl eet replacement could require more than $280 billion.
Additional investment of around $310 billion for green ammonia, $81 billion for green methanol and $42 billion for renewable LNG will also be needed.