The total greenhouse gas emissions from the global maritime transport industry are estimated to have been cut by over 20% from 2007 to 2012, theSecretary General of the International Chamber of Shipping (ICS) told a United Nations summit on climate change today.

The global maritime shipping industry, which transports an estimated 90% of all world trade, is thought to have produced only about 2.2% of the world’s total greenhouse gas emissions during 2012 compared to 2.8% in 2007.

The estimates are contained in a comprehensive study of the shipping industry’s Green House Gas emissions prepared by the International Maritime Organization (IMO), which will be considered by its Marine Environment Protection Committee next month.

Speaking at the United Nations Climate Summit in New York on Tuesday, which was convened by the UN Secretary-General, Ban Ki-Moon to give impetus to the negotiations on a new global climate change agreement, ICS Secretary General, Peter Hinchliffe, remarked:

“The latest IMO study, which uses satellite tracking, suggests there’s been a significant reduction in absolute CO2 emissions from ships due to the introduction of operational efficiency measures across the whole fleet. This includes operating at slower speeds, combined with more fuel efficient designs on board the large number of new build vessels that have recently entered the market.”

He added “The reduction in CO2 per tonne of cargo carried per kilometer by ships is even more impressive than the headline IMO figure for absolute GHG reduction because cargo moved by sea has continued to grow since 2009.”

The ICS says that in parternship with the IMO, the global shipping industry is committed to delivering further CO2 emissions reductions. Shipping is already the only industrial sector to have mandatory global regulations in place to reduce it CO2 emissions, which entered into force worldwide in 2013, ICS said.

Nevertheless, more work needs to be done.

“The shipping industry fully recognizes that governments expect even greater CO2 efficiency improvements in the future,” added Hinchliffe. “Given the very high cost of fuel which is soon set to increase by around 50% due to separate new rules on sulphur the industry already has every incentive to deliver this.”