Collaboration Key To Green Shipping Corridors: Insights From APM 2024

70

  • At the Asia Pacific Maritime (APM) 2024 conference in Singapore, industry experts emphasized the critical role of collaboration in establishing successful green shipping corridors.
  • Speakers highlighted the significance of partnerships between countries and stakeholders committed to finding sustainable decarbonization solutions for the maritime sector.

Kenneth Lim, Assistant Chief Executive (Industry and Transformation) of the Maritime Port and Authority of Singapore, discussed Singapore’s initiation of green shipping corridors to support the energy transition in maritime transport. This effort follows an initial agreement between Singapore and Australia to establish the Green and Digital Shipping Corridor. Globally, there are approximately 44 green shipping corridors in various stages of planning.

Addressing Challenges and Deadlocks

One of the primary challenges hindering the operationalization of green corridors is the uncertainty surrounding the allocation of higher fuel costs. Torben Norgaard, Chief Technology Officer for Energy and Fuels at Denmark’s Mærsk Mc-Kinney Møller Centre for Zero Carbon Shipping, emphasized the significant price gap between conventional and alternative marine fuels. Resolving this disparity could involve strategies such as aggregating consumer demand, as demonstrated by Maersk’s Eco Delivery service, or regulatory measures like carbon pricing.

Enabling Factors and Concrete Investments

Andreea Miu, Head of Decarbonisation at the UK-based Sustainable Shipping Initiative, highlighted the importance of stakeholders collaborating to make tangible investments necessary for the development of green corridors. These investments should focus on initiatives such as developing bunkering infrastructure, retrofitting vessels for alternative fuels, and training seafarers in fuel handling.

The Need for Willing Partnerships

Norgaard emphasized the necessity of a “coalition of the willing” comprising stakeholders willing and able to work together within a specific economic framework to enable the establishment of green shipping corridors.

Future Prospects and Considerations

Panelists at APM discussed the potential benefits of green corridors for shipowners, particularly in addressing fuel selection challenges. Sanjay Kuttan, Chief Technology Officer of the Singapore-based Global Centre for Maritime Decarbonisation, highlighted the importance of considering the volumetric energy density of alternative fuels and identified potential emerging corridors, such as between south India and east China’s Ningbo/Zhoushan.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: Argus