Maritime emissions are on everyone’s lips at the moment, after MEPC83’s apparent breakthough, but there are carrots that ship designers and operators can chase, along with the sticks regulators are using and planning to use, writes Matt Miller, Marine Industry Principal at AVEVA.
Efficient transportation of freight is crucial for today’s global economy. Whether raw materials or finished products, the majority of goods are likely to sail across an ocean at some point before reaching their final destination. With 80% of international trade dependent on shipping, according to figures from the UN, the environment is paying the price in greenhouse gas emissions.
Worldwide, the shipping and fishing industries combined are responsible for nearly 3% of all human-driven greenhouse gases (GHG). If this amount were produced by a country, it would be the sixth largest producer in the world.
On the upside, the intensity of carbon emissions is reducing. However, on its own, this won’t be enough to offset the projected increase in shipping over the coming decades, with emissions potentially rising to 130% by 2050 compared to 2008.
The IMO wants to see urgent action from the shipping industry to avert these damaging consequences. It has already committed to its 2023 IMO Strategy, going for net-zero emissions by 2050, aiming for a drop of 20-30% at 2030, and 70-80% by 2040.
To meet such an ambitious timescale, the IMO is promoting the uptake of zero and near-zero GHG emission technologies. It wants these types of fuel and alternative energy sources to represent 10% of international consumption but is targeting 5% as a minimum by 2030.
Better fuel performance is also seen as a key factor in lowering emissions. The aim is to reduce carbon intensity per transport work by at least 40% by 2030 compared to 2008. Effectively, this means ships must use less fuel and produce fewer emissions relative to the distance they travel.
It’s not only the IMO that’s making waves, the EU’s FuelEU initiative mandates the use of more sustainable fuels to reduce maritime GHG, with strict targets starting to come into force from 2025.
Penalties in the coming years for non-compliance are likely to be substantial as part of the IMO and EU’s enforcement strategies. These could include fining shipping companies and detaining ships in port, resulting in significant financial losses and long-term reputational damage for the perpetrators.
To be ready for approaching regulatory obligations, shipping companies must act faster. Ignoring sustainability is no longer an option. Forward-thinking organisations are already driving innovation across the ecosystem, embracing new technology and designs to replace or upgrade ageing vessels, facilities and processes. This means they are in a good position to ramp up the transition to cleaner fuels, better performance, and more efficient energy usage across all operations.
Source: Global Data