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Lloyd's Register's analysis reveals that while global shipping is gradually adopting cleaner fuels, the current pace is inadequate to meet environmental targets set by the International Maritime Organisation. With only 2.1% of the fleet utilizing alternative fuels and significant retrofitting needs outpacing shipyard capacity, the sector faces a financing gap exceeding a trillion dollars and a shortage of trained personnel. Cyprus, as a maritime hub, highlights the urgent need for global cooperation and investment to address decarbonisation challenges, as the industry is only 24-30% aligned with its 2030 goals.