"LONDON - Ocean freight costs are likely to remain high in 2022 as investors and regulators scramble to accelerate decarbonisation of the shipping industry and companies grapple with green financing, sources say.

Shipping, which transports about 90% of world trade and accounts for nearly 3% of the world's CO2 emissions, is under growing pressure from environmentalists to deliver more concrete action including a carbon levy.

The International Maritime Organization (IMO), the UN's specialist shipping agency, has said it has made progress on short-term greenhouse gas (GHG) reduction measures.

But that timeline is not seen as fast enough by environmentalists and a number of the IMO's 175 member countries."

Jonathan Saul reports for Reuters December 22, 2021. [2]