Sailing towards a low-emissions future Sponsored by MHI_Group
More efficient marine vessels reduce emissions as well. Under thenew ships will need to achieve a new standard — boosting energy efficiency by 30 percent — by 2025, compared to vessels built in 2014. Existing ships must have an energy efficiency management plan, which improves the operation through voyage planning, cleaning the propeller and the vessel’s underside, and introducing beneficial technology such as waste heat recovery systems. But these measures form a small part of the solution.
To decarbonize, the industry needs to fast-track the development and economics of carbon-free options, such as hydrogen.Switching to LNG – which has near-zero sulfur emissions, and lower NOx and COemissions – is an attractive path to meeting the IMO’s 2050 goal, given that the price is expected to drop as new supply comes online in the coming years. Likewise, other alternatives such ascould help reduce emissions. But there’s a catch with these fuels.
The cost of hydrogen needs to be competitive with fossil fuel prices. According to Marco Alvera, CEO of Snam, Europe’s largest natural gas utility, the game-changer will be mass production of electrolyzers, the machines used to create hydrogen using electricity. Right now, as Alvera described at Davos during the decarbonization panel, the equipment is made by hand.
Emissions-busting systems like this are an investment. To entice shippers and shorten the return on investment, policy would need to give the technology a boost.None of these solutions will transform the industry on its own, but a combination could help move the world’s goods around the planet in a more sustainable manner.
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