This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent.The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work and does not assume responsibility for any errors, omissions, or discrepancies in the information, or liability with respect to the use of or failure to use the information, methods, processes, or conclusions set forth. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved.

The World Bank team would like to express its great appreciation to Genevieve Connors, Aurelio Menendez, Alexandrina Platonova-Oquab, and Binyam Reja at the World Bank for their managerial guidance and constructive suggestions during the planning, development and finalization of this research. Their willingness to give their time and support so generously was highly valued.The World Bank team would also like to thank Dirk Heine for his catalytical role in the Decarbonizing Maritime Transport program at the World Bank. His personal dedication and genuine passion were instrumental in getting the program started.The World Bank team is particularly grateful to Veronica Gadea and Jeffrey Lawrence at the World Bank for the compelling graphic design, and thanks Marlee Beers and Meghan Castonguay at the World Bank for the professional maps.Funding for this report was provided by the World Bank's Climate Change Group and PROBLUE, an umbrella multi-donor trust fund, administered by the World Bank, that supports the sustainable and integrated development of marine and coastal resources in healthy oceans.i i i ABBREVIATIONSACRONYM DEFINITION ABS American Bureau of Shipping bcf Billion cubic feet BECCS Bioenergy with carbon capture and storage CCC Committee on Climate Change CCS Carbon capture and storage CH 4 Methane CO 2 Carbon dioxide DAC Direct air capture DNV Det Norske Veritas

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