IMO Member States adopted the 2023 IMO Strategy on Reduction of GHG Emissions from Ships, with enhanced targets to tackle harmful emission. Europe is leading the way with EU-ETS, and the maritime sector is accelerating its decarbonization efforts with low-carbon, multi-fuel solutions, including ammonia, methanol, hydrogen and its derivatives, bio-LNG, as well as new technologies, digitalization and other measures. What are the economic, risk and regulatory factors driving this transformation? What is the timeframe for these initiatives to impact the operations of different carrier types?