- Transport and Environment (T&E) urges regulatory bodies to implement targeted measures to improve energy efficiency in shipping, as current pricing strategies have had a “negligible impact” on emissions.
- A study found no significant relationship between fuel prices and efficiency improvements, with predicted efficiency gains being marginal by 2031.
- Sailing at 75% of current speeds could reduce carbon emissions by 47%, even if additional ships are needed to maintain cargo volumes.
- Maersk has received the seventh of 18 dual-fuel methanol vessels, urging ambitious IMO regulations to make low-emission shipping competitive.
Transport and Environment (T&E) has called on policymakers to adopt targeted, explicit measures to reduce shipping emissions. This follows a study revealing that current emissions pricing mechanisms, such as EU ETS and FuelEU Maritime, have had a minimal impact on improving energy efficiency or reducing emissions in the shipping sector,
Key Highlights
Study Findings on Fuel Prices & Efficiency
Over three decades, the relationship between fuel prices and technical/operational efficiency has been insignificant.
While higher fuel prices lead to slightly more efficient ship orders, these take six years to manifest and only yield marginal improvements:
Design efficiency of new ships will improve by 4% by 2031. Overall fleet efficiency is expected to rise by a mere 0.03%.
This minimal change suggests current pricing strategies alone cannot drive the necessary emissions reductions.
Call for Bespoke Action
T&E advocates for concrete measures beyond price increases, such as implementing policies that explicitly promote energy efficiency. Encouraging slow steaming—reducing ship speeds to significantly lower emissions.
Jacob Armstrong of T&E emphasized: “The biggest improvements in efficiency come from sailing slower. If governments act, they can slash emissions overnight.”
Impact of Slower Sailing
Slower speeds (75% of current) could reduce carbon emissions by 47%.
Even adding one extra ship to maintain cargo volume at reduced speeds would result in a 34% emissions cut due to the nonlinear relationship between speed and fuel consumption.
Maersk’s Dual-Fuel Advancements
Maersk continues to innovate with the delivery of its seventh dual-fuel methanol vessel. The 16,592 TEU ship is one of 18 vessels being built at Hyundai Heavy Industries.
Maersk has urged the IMO to adopt regulations that close the cost gap between fossil fuels and low-emission alternatives, making sustainable choices competitive.
Industry Implications
Current measures, such as bunker adjustment factors and emissions pricing, are insufficient for driving significant energy efficiency gains.
Policymakers must rethink strategies to incorporate targeted interventions.
The potential of Speed Reduction
Slow steaming could be a quick-win solution for reducing emissions, though it would require operational adjustments, including increased fleet sizes.
This approach highlights the trade-off between operational efficiency and environmental goals.
Technological Innovations
Companies like Maersk are setting a precedent by investing in dual-fuel vessels that align with future regulatory frameworks.
Such advancements emphasize the need for global collaboration to standardize low-emission shipping practices.
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Source: Loadstar
