The four partners voiced their shared belief that the maritime industry needs greater collaboration if shipping is to meet the IMO’s 2050 greenhouse gas (GHG) emission target, an ambition that requires commercially viable deepsea zero-emission vessels (ZEVs) to be in operation by 2030.
The IMO’s 2050 GHG goal is to see international shipping reduce its total annual GHG emissions by at least 50% of 2008 levels by 2050.
“We all know that the industry-wide movement is vital, and new zero-carbon fuel technologies, such as ammonia fuel, are to be brought on the table, in order to take action proactively on maritime GHG emissions in accordance with the IMO’s ambitious road map,” said Nam Joon-ou, president and ceo of SHI.
The use of ammonia as marine fuel, however, is just one of the pathways towards zero-carbon emitting vessels.
MISC, SHI, LR and MAN Energy Solutions recognise that the shipping industry will need to explore multiple decarbonisation pathways in order to address the global challenge.
The partners believe that the creation of such alliances will send a clear message that shipping can progress itself to fit times and circumstances, ahead of regulatory action.
“At MISC, we believe the global maritime industry needs to be more collaborative in defining our future together, rather than being confrontational and fragmented in our efforts,” commented Yee Yang Chien, president and group ceo of MISC.
The drive to decarbonise shipping will be a dominant focus of the decade ahead and follows a year of action in 2019 that saw the launch of Getting to Zero Coalition, an alliance of leading maritime, energy, infrastructure and finance companies committed to getting commercially viable deep-sea ZEVs powered by zero emission energy resources into operation by 2030.
Bjarne Foldager Jensen, senior vice president, head of two stroke business at MAN, said: “Low-speed diesel engines are the most efficient propulsion system for trans-oceanic shipping and already run on a sizable number of emission-friendly fuels. We look forward to adding ammonia to the list and welcome the opportunity to work with industry partners in this venture.”