- Russia-Ukraine war boosts decarbonization need but maritime efforts lag
- LNG bunkering viable option that exists today
- Carbon tax needed to incentive shipowners, create level playing field
The Russia-Ukraine war may have come as a shot in the arm for overall global decarbonization efforts, but the maritime industry is still far behind in that value chain to draw those resources, with significant progress required and favorable incentives needed to expedite shipping’s decarbonization journey as it embraces a multifuel future, reports Platts.
Accelerating maritime decarbonisation
“I think it’s sad. Whilst the world agreed that we had an existential threat and the need to decarbonize, we had to wait for a country to invade anther country to make us realize that we have to do something faster,” Sanjay Kuttan, Chief Technology Officer at the Singapore-headquartered Global Center for Maritime Decarbonization, or GCMD, said June 16 at the S&P Global Commodity Insights Bunker and Shipping Summit, 2022.
“We [globally] need to accelerate our efforts…So, I hope that even when the war ends, the pace of acceleration doesn’t taper off because the existential threat affects not only one nation but the whole world,” he said.
Sanjay Verma, business development director at Warstila, also echoed a similar sentiment. However, he noted that it was imperative to take a holistic view.
“We are far behind in that value chain for shipping to get that fuel [renewables] and truly it should be done again following the same logic of cleaning the world, not the ship,” Verma said.
Embracing a multifuel future
When it comes to cleaner marine fuels, LNG, perhaps methanol, are the only alternatives that are viable today, Takeo Akamatsu, General Manager of Green Innovation Business Unit Plant Project, Marine & Aerospace Division at Itochu Corporation said.
“We believe ammonia will come soon and some years later we may have the option of green LNG, green methanol and green ammonia,” Akamatsu said.
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Source: Platts
