In October 2020, the European Parliament announced its vision to achieve climate neutrality by 2050. The EU strategy sets out its aims for net-zero greenhouse gas emissions by targeting a 60% reduction by 2030 when compared to the 1990's level of emissions. The EU is placing particular pressure on the shipping industry to shift towards greener energy.
There are two main ways that this industry is approaching the goal.
The first relates to the supplier developing greener fuels, or renewable energy.
The second is to build a more energy efficient vessel.
Here's how a few shipping giants are already acting on the new requirements.
A.P Moller Maersk is ordering new container vessels that will run on "Carbon Neutral Oil" such as Ammonia, Alcohol, Ethanol or Methanol.
A.P Moller Maersk rejected the idea of having "transitional fuel" and said they planned to switch directly from fossil fuel oil to zero emission fuel. Recognising that ships often have a lifespan of 20-25 years, they now intend to start replacing smaller container ships that will run with lower emission oil, to help offset the carbon emission.
Cargill has formed a partnership to develop windsails and equip bulk vessels and cruise ships with a wind harness of 45 m height, to aid aerodynamics and reduce emission levels.
We provided recent information and updates on green fuels in one of our previous blogs, which can be found here.
If you have any questions or would like to discuss this further please do not hesitate to contact us at copemer@copemer.com
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