2024, A YEAR OF ACTION

Last year, MEPC 80 set the tone for fundamental changes in our industry that will unfold this year and beyond. We have our direction: a net-zero target for the middle of this century and interim targets for the end of this decade. Details remain to be worked on, but what is clear now is that this year must be a year of action.

As an industry, our first priority has to be to find solutions to reduce the greenhouse gas emissions of existing ships and their operations. In the short to mid-term, this means working with what we have: implementing existing technologies and operational measures to improve efficiency. At the same time, it involves developing innovative new solutions over the longer term. 

Working with what we have

There are several levers at our disposal already to reduce emissions – and they are delivering proven results. Biofuels are an immediately available ‘drop-in’ solution to reduce emissions. Retrofitting energy saving devices is standard and new ships are becoming ever more efficient. We can also expect to see continued interest in wind-assisted propulsion, while onboard carbon capture technologies are being assessed for potential. According to Clarksons Research, the latter is now being tested on 31 in-service vessels and 22 newbuilds. Our own feasibility study last year demonstrated carbon capture’s economic viability as a means to achieving CII compliance. 

And not all of these solutions necessarily imply large and costly changes. Shipowners are taking advantage of drydocks to install energy-saving devices like hull coatings to improve ship efficiency. The next steps will see the retrofitting of engines and fuel systems to burn methanol and ammonia.

In terms of operational efficiency, digitalization will continue to be a key enabler. Shipping companies can already implement tools to measure, manage and drive performance across their business. By improving the visibility of their own emissions, they can make effective decisions for lasting change. Owners can also act now to shape new contractual relationships that will enable them to tackle inefficient practices like “sail fast and wait.” In a highly competitive industry like shipping, it may take time for such contractual models to become widespread, but, as ever, early movers will provide a blueprint for those who follow them.

Focusing our approach for the next phase

In the wake of MEPC 80, we can also expect to see more focused and mature conversations on future marine fuels. Namely, we can expect these to center on how to secure a sufficient supply of renewable energy to produce green hydrogen, ammonia and methanol. I also believe that nuclear power will increasingly become part of this conversation.

Looking beyond fuels, we must not lose sight of the people who will shape and power shipping’s new era. The maritime industry is increasingly visible in mainstream media, as socio-political events highlight its importance to global economies and communities. This visibility is an opportunity we must embrace, to showcase our industry as an attractive career path for new talents. We will need a range of onshore and at sea profiles in the years to come, from AI experts to software engineers and fuel specialists. Let 2024 be the year we reach out to them to shape a better maritime world together in future.

Matthieu de Tugny
Executive Vice President
Bureau Veritas Marine & Offshore