After a year in which decarbonisation regulations were agreed to be sharpened at both International Maritime Organisation (IMO) and European Union (EU) level, the maritime industry advanced significantly towards meeting its long-range emissions targets in 2023, according to LR’s analysis of vessel ordering, technology and fuel developments.
Regulatory drivers fall into place
At MEPC 80 in July, the IMO agreed a revised greenhouse gas (GHG) emissions reduction strategy with an ultimate goal of phasing out GHG emissions by or around 2050. The first ‘indicative checkpoint’ on that path will be 2030, by which time the IMO strategy calls for a 20%, striving for 30%, reduction in total emissions (based on 2008 numbers) as well as zero- or near-zero carbon fuel use representing 5%, striving for 10%, of total shipping energy use.
Quadrise plc (LON:QED) is an energy technology provider whose solutions enable production of cheaper, cleaner, simpler and safer alternatives to fuel oil and biofuels, proven in real world applications. Quadrise technologies produce transition fuels called MSAR® and bioMSAR™, which allow clients in the shipping, utilities and industrial sectors to reduce carbon emissions whilst also saving costs.
