Decarbonization is now one of the most critical challenges for the maritime industry apart from the global pandemic COVID-19 and oversupply of ships. The pathway is already there and industry players are taking the necessary steps to reach the goal for the reduction of GHG emissions from shipping by at least 50 percent by 2050. Shipyards, engine manufacturers and energy companies are upgrading their operations and technologies to achieve commercially viable zero emission maritime transportation.
IMO concluded its 76th Marine Environment Protection Committee (MEPC) during 10-17 June with discussions focusing on actions to tackle climate change, including the adoption of short term measures to reduce carbon intensity of ships and on the more general way forward. This report summarizes the latest trends seen this year in the transition to a greener future for shipping. It also covers the concluding remarks of MEPC 76 and some statistical data on the to-date CO2 performance of the maritime industry.
CO2 Emissions from 2012 to 2018
According to the fourth IMO greenhouse gas study, total CO2 emissions grew by almost 10 percent from 2012 to 2018, accounting for 2.89 percent of total global anthropogenic emissions. The analysis confirms that while total emissions have grown, the carbon intensity of shipping improved between 2008 and 2018, both for international shipping and for the majority of ship types. On average, carbon intensity for international shipping was between 21 and 29 percent lower in 2018 than in 2008, the figures show.
According to research by the International Council on Clean Transportation, published November 2020, the proposed short-term measures to reduce carbon intensity fall into two categories: operational and technical. Ships will be required to address both areas starting in 2023 to help meet IMO’s minimum 2030 carbon intensity goal. Main engine power limitation (EPL), a semi-permanent, overridable limit on a ship’s maximum power, is believed to be the easiest way for older ships to meet Energy Efficiency Existing Ship Index (EEXI) requirements.
Decarbonization solutions: The role of data in call for action
Solutions to reach decarbonization exist and will continue being developed. Data plays a significant role in increasing transparency and pushing for prompt actions. It won’t just be IMO deadlines set on a future date anymore. Satellites, remote sensing technologies, and artificial intelligence will monitor worldwide greenhouse gas emissions in real-time and pinpoint them to specific sources: individual ports, ships, services, and businesses. Such authentic and unprecedentedly detailed emissions data will tighten regulations and shed new light on ESG integration and investing.
Data monitoring is essential for all players, owners and charterers alike, to assess emissions historically and identify load / discharge areas with the highest and lowest CO2 emissions levels per vessel segment. With this method, shipping players can optimize fleet deployment and immediately address short term factors, such as slow steaming and triangulation. By optimally selecting ships for cargoes the industry can, starting today, achieve a direct reduction in the CO2 emissions of shipping. Digital transformation in commercial shipping is now crucial to facilitate decisions that balance profitability with environmental footprint.
CO2 emissions monitoring with the Signal Ocean platform
In December 2020,a new tool in the Signal Ocean Platform was launched covering the tanker and dry bulk segments. Industry participants are now able to consider the CO2 impact when chartering ships alongside their Time Charter Equivalent (TCE) rates. Key influencing factors include not only the emissions during the laden sea passage of a voyage, but also ballasting, route deviations and other operations, all in conjunction with technical ship characteristics, age, shipyard/design, use of scrubbers and type of fuel used.
The Signal Ocean Platform estimates CO2 emissions from AIS data converted into voyages, where all stops for bunkering operations, idle times, repairs, loads and discharge operations have been taken into account. At sea, ballast and laden legs and SECA navigation times are clearly defined. Models that estimate consumptions for each distinct operation have included vessel particulars including country built, year built, scrubber fitting, operational conditions and vessel speeds.
Get the full story HERE
