“Super slow-steaming” can keep a conventional, oil-powered ultramax bulker in operation for another 24 years while compliant with the IMO’s decarbonisation roadmap, according to Port Dragon Bulk’s chief executive Asaf Malamud.

To fight climate change, the IMO has aimed to reduce greenhouse gas emissions from international shipping by 50% from 2008 before 2050, but such decarbonisation is expected to be achieved in phases and requires intermediate measures.