Green technology adoption in the maritime shipping industry : A company’s perspective, operating in the EU

The maritime transportation sector is responsible for 80 per cent of the world’s trade volume, and at the moment, emits less than other methods of transportation. Nevertheless, increasing transportation demand is predicted to accelerate the sector’s future emissions. Right now, the marine shipping industry is facing increasingly stricter environmental expectations as part of global efforts to decarbonize. Recent studies on annually increasing emissions emphasize the need to adopt green solutions more rapidly, as current adoption remains relatively slow and highly context-dependent. This study examines why green technologies are not more rapidly adopted by firms operating in the maritime shipping industry, reviewed from an international cargo shipping company’s perspective with operations in the European Union (EU). Currently existing technologies, their benefits, and obstacles are presented to ground and contextualize the study. In addition, the theoretical part of the research discusses the impact of legislation and critical resources on the adoption of green technology. This study adopts Institutional Isomorphism Theory, which is suitable for studying decision-making at the company level. The EU’s and the International Maritime Organization (IMO)’s emerging regulations are imposing coercive pressures on companies to comply with tightening standards, while normative pressures are arising from differing expectations of actors and the regional industry attitudes. Mimetic pressures are associated with risks and uncertainties, leading to imitation of industry leaders. The study also adopts Resource Dependency Theory, according to which companies are dependent on critical resources, such as fuel, infrastructure, and access to financing, which limits their independent decision-making. The theoretical lenses were chosen for the study, as institutional compliance and access to needed critical resources are recognized as the most important factors affecting technology adoption in the industry. The empirical research follows a qualitative design. Semi-structured expert interviews were conducted with company experts involved in green-technology decision-making projects. The interviews were transcribed, anonymized, and analysed using thematic coding supported by qualitative data analysis software. The results indicate that technological development is not the primary factor slowing technology adoption, but a misalignment between institutional pressures and accessible resources, critical for shipping companies. Technologies such as digital optimization, technical retrofits, and alternative fuels have proven effective and are available to the market. Companies have reported adopting combinations of available solutions. The benefits are perceived as highly context-dependent. Short-sea shipping, with well-developed infrastructure, is seen as a favourable environment for alternative fuels, while long-distance shippers remain largely reliant on fossil fuels. Regulations from the EU and the IMO are the main drivers of adoption; however, the regulatory environment is perceived as fragmented, slow, and still too weak to close the price gap between fossil and renewable fuels. Companies face strong dependencies on fuel suppliers, infrastructure development, and financing, as well as high costs, long payback times, and various economic and political uncertainties. Customers and investors create niche markets for green solutions, particularly in Northern Europe, while many of the other global markets remain highly price-oriented.