At a UN International Maritime Organisation meeting in London, support was shown for a greenhouse gas levy on the shipping industry to enable a transition to zero-carbon technology. The industry, responsible for 80% of global trade and a significant emitter of greenhouse gases, aims to reduce emissions by 20-30% by 2030 and achieve zero emissions by 2050. Proposals include a global fuel standard, pricing mechanism, and efficiency rules. However, challenges arise in setting the right price for green fuels like hydrogen, which currently face a cost gap compared to fossil fuels. The industry estimates a significant investment of USD 70-90 billion annually from 2030 to 2050 for decarbonization, focusing on green fuel production plants and ship upgrades. Dual-fuel ships capable of running on green fuels like methanol or ammonia are being developed, with discussions ongoing on how to fund their transition through green fuel subsidies.