The time is now
The IMO had decreed that emissions need to be cut by 50% of 2008 figures by 2050. Given that the shipping industry is projected to grow by 250% at the same time the current ship emissions need to reduce by 80% to achieve the IMO’s objective.
Based on the table below, by 2050 shipping is anticipated to be over 250% of the 2008 tonnage.
Tankers, container ships and other freighters, most of which burn a coarse petroleum sludge called bunker fuel, now contribute about 3.3 percent of global carbon dioxide emissions, though some analysts argue the figure may be considerably higher. Without new restrictions, emissions from increased shipping could nearly triple by 2050.
New York Times.