Citing the massive increase in the cost of fuel, which ICS claims represents a rise of about 300% in the last five years, as well as an additional 50-100% for the low-sulphur fuel switch, ICS external relations director Simon Bennett said more judicious use of fuel, and therefore the reduction of emissions, was a matter of “enlightened self-interest” for shipowners.
The need for measures such as operating ships at slower speeds, and adjusting trim, is a “no-brainer”, said Bennett. IMO regulations for the mandatory application of Ship Efficiency Management Plans (SEEMP) were also “giving additional impetus to fuel efficiency measures that are already being taken by much of the industry."
"The fuel costs for a typical ship carrying iron ore are already about $3m a year,” said Bennett. “For the latest generation of mega containerships they could be as much $30m a year. The high cost of fuel means that market forces are already providing shipowners with every incentive they need to continue improving their fuel efficiency and reduce their CO2 emissions. Otherwise shipping companies will simply not survive."
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