Specifically, Haralambos J Fafalios, GSCC chairman, commented that shipbuilders, engine manufacturers, fuel suppliers and legislators should fasten research and development efforts to discover and develop low-carbon fuels.

Our industry will do its best to reduce GHG emissions through short, medium and long-term measures, but we need full co-operation from the other participants and especially to develop plentiful low carbon fuels suitable for worldwide shipping

... added Mr Fafalios.

Concerning short-term measures, the Council supports that they are not useful for container ships, gas carriers and car carriers but they could help tramp shipping meet short-term greenhouse gas reduction targets.

Commenting on the 2020 sulphur cap and a feared shortage of compliant fuels when new regulations enter in force, Fafalios urged the IMO, governments, companies, refiners and bunker suppliers to be “flexible enough to deal with any bottleneck to avoid any dislocation of world trade”.