The maritime industry is responsible for the transportation of more than 80% of traded goods worldwide. That being the case, its contribution to man-made carbon emissions – at 3% of the total – could be far worse. As we move towards a truly sustainable future though, it’s simply too much.
Which is why the IMO has committed to reducing shipping emissions to net zero by 2050. That’s a considerable challenge, especially if we consider some analysts’ predictions that we are currently in line for a 50% increase over the same period.
The industry is not sitting still. There are countless initiatives underway that aim at cutting emissions. These include harnessing the latest digital technologies and experimenting with different construction materials. Another area where considerable effort is being invested is alternative fuels.
There are various contenders – electric propulsion, biofuels, synthetic fuels, LNG, even nuclear. None of these is the Holy Grail; It’s unlikely any will be the ‘fuel of the future’. Instead, there is likely to be a range of options to match vessel type, route and cargo.
Sign up to the XL Anchor monthly newsletter to be the first to receive exclusive content and industry news.
