Decarbonisation in Shipping

Decarbonisation is a way of  reducing carbon in shipping. The IMO has set targets for shipping to reduce Greenhouse gases by 2050 in a phased approach. Decarbonising the shipping industry may be achieved through alternative fuels, renewable energy sources, innovative technologies, as well as technical and operational strategies to reduce fuel consumption for new and existing ships. Learn more about the legislation and compliance options available to shipowners, as well as the contractual and charter party issues by contacting one of our specialists today.

Shipping can be quite a difficult industry to decarbonise as vessels require fuel for international transit. Shipping transports up to 90% of the world’s trade and based on current activity contributes to nearly 3% of global emissions. Without efforts to decarbonise shipping  this could increase to 17% by 2050. To tackle this, several industry initiatives have been introduced including new global government emissions targets, as well as a range of emerging technologies and alternative fuel and energy sources to reduce CO2 emissions. North’s in-house specialist team and external experts offer advice and guidance in navigating decarbonisation through our Navigating Decarbonisation webinar series.

By 2050, the global maritime shipping industry is committed to moving to net-zero. For further developments in the shipping industry, The International Chamber of Shipping (ICS) has stated that to reach net zero, 5 percent of the global shipping fleet will need to be zero-emissions by 2030. At the 2021 international COP26 conference in Glasgow, important differences emerged as to whether market or regulatory rules would  be most effective in driving  global shipping towards net zero.

Full decarbonisation of our energy systems is the only solution to climate stabilisation, according to the World Economic Forum. At North we’re here to assist you in making the right decisions for your business and to take the appropriate steps in your decarbonisation journey. Talk to our specialists today to find out more.