Vicky Lee Likedin5 Mar 2024 06:48
In order to effectively drive change, a collective ecosystem is needed all rowing in the same direction. We’ve seen this in the maritime sector recently.
Firstly, customer demand.
Cargo owners like IKEA, Amazon, Philips, Nike and other giants have formed the Zero Emission Maritime Buyers Alliance (ZEMBA), and are calling for zero carbon emissions shipping services that will enable ZEMBA members to reduce supply chain emissions. This is the first major buyer-led initiative to accelerate the transition to zero-emission maritime fuels led by shippers putting pressure on their suppliers.
Secondly, regulatory changes.
On 1 January 2024, the EU extended the coverage of its ETS (Emissions Trading System) to incorporate the maritime sector; which represents 3 to 4% of the EU’s total CO2 emissions.
This means the price of carbon will now have a bigger influence on the Maritime sector, with carbon allowances priced in the market. This now means the shift from fossil fuels to lower-carbon alternatives now create a strong economic incentive for ship owners.
Thirdly, technology & innovation.
Green steel, new propulsion technology, AI-based route planning, drag-resistant coatings for ship hulls, and low carbon fuels.
Quadrise’s synthetic fuels MSAR® (Multiphase Superfine Atomised Residue) and bioMSAR™ are both Oil-in-Water emulsion fuels with droplets so fine that they burn almost completely, like a gas, leaving virtually no particulate “black carbon” in the exhaust, making it more environmentally friendly.
MSAR® delivers up to 9% reduction in CO2 and bioMSAR™ offers over 20% reduction compared to heavy fuel oil. This is comparable with LNG use, but without the risk of methane slip, which is 21 times worse than CO2 as a greenhouse gas.
When it comes to making sustainable changes, all parts of an ecosystem need to move together: consumer demand, regulation & innovation. I’m encouraged by the action I see in the maritime sector, where companies are collaborating to move in the right direction.
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