Cargill Shipping Boss Says Low Oil Makes It Harder to Cut Carbon

Weak oil prices are making it harder for the shipping industry to decarbonize, according to the president of commodities giant Cargill Inc.’s freight-trading business.

With a chartered fleet of more than 600 ships, Cargill has been at the forefront of the shipping industry’s efforts to cut carbon. Now, it’s hiring five new freighters that will be able to run on low-emission methanol as well as traditional oil-derived fuel.