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Decarbonizing Shipping

Climate change or global warming is indeed a reality, with people experiencing its effects every day. Extreme weather rises in sea levels and changes in the timing of seasons have affected human health by worsening food security, increasing pressure on supplies of clean water, and mass migrations of people seeking safety. Levels of carbon dioxide, a ‘greenhouse gas released by burning fossil fuels, are at a record high.

Decarbonization has become a global imperative and a priority for governments, companies, and society at large which, in turn, are making commitments and increasing efforts to close the gap to net-zero emissions.

The International Maritime Organization (IMO) has set an ambition to reduce the carbon intensity of emissions from shipping by at least 40% by 2030, and 70% by 2050.

Decarbonization was also the topic that hushed every other at SMM 2022 in Hamburg Germany, the largest maritime exhibition in the world and the first post-pandemic and in-person since 2018. This topic, the industry’s greatest challenge, was the focus on the show floor and in the conference rooms. At the show’s opening, the ICS Secretary General declared that the shipping industry can no longer remain on the sidelines, and must take its place in global discussions to ensure that the industry can secure the right energy supplies for the future.

From across SMM, the message was clear that shipping wants to move away from the sidelines but will need to be ushered along by global and regional regulations. Until regulations are in place, most companies will wait and see, only making environmental progress where there is a commercial benefit.

To realize the IMO’s ambition, progress needs to be made particularly in the harder-to-abate industries. The decarbonization of shipping cannot be solved by one organization on its own. Close collaboration between players in the shipping ecosystem and other sectors is required.

We are proud to always be on top of the global updates on the decarbonization in shipping and we are closely monitoring the best alternative fuels solutions that will be to benefit of our trusted customers from around the world.