The increase in the use of renewable energy sources will change many sectors, one of which is the shipping industry.

Axar.az informs that, this was stated in the analysis of Bloomberg.

It was noted that a third of the miles covered by shipping were used to transport conventional fuels. The share of oil in these traditional fuels is about 70 percent.

As the use of renewable energy sources reduces the market share of oil, gas and coal, this will have a serious impact on the profits of tanker companies carrying traditional fuels.

Seb Hendest, chief economist at BloombergNEF, said: “The demand for ships and railways is likely to be a new comparison. This means less energy consumption and less carbon emissions.”