OUR MISSION TO CUT EMISSIONS
The journey to decarbonize shipping has already begun. Working closely with our suppliers, customers, and the wider community, we are looking beyond the challenges of now into the energy solutions of the future.
NEW FUEL NEWS
Shipping needs up to $28 billion per year to switch to carbon-neutral fuels by 2050, DNV forecasts
Green hydrogen-based fuels are the best option for shipping's green transition, report finds
Costs of Climate Inaction: Shipping could face $25 billion costs per year due to climate change
Maritime sector eyes carbon price on bunker fuels as possible decarbonization solution
THE FUTURE IN
The IMO has revised its strategy in the MEPC 80 meeting to reduce well-to-wake greenhouse gas emissions. So where do we expect to see shipping in the future?
Transitioning your fleet to a new source of energy is a complex journey. Our team is available to share market knowledge and guide companies towards a greener future.
Select a new fuel type to learn more.
LNG produces significantly lower NOx and CO2 emissions and zero SOx emissions when burned. It is considered a stepping-stone towards the energy transition. However, it may not be a permanent fuel solution because it emits CO2.
Biofuels are fully renewable and adaptable energy sources and emit 50% less carbon emissions than traditional fossil fuels. However, biofuels require high-water consumption and an abundance of food crops to produce.
Methanol is a green-burning fuel type that is renewable and biodegradable. It has a low risk of explosion and can also be converted into hydrogen.
LPG has low CO2 emissions and is fully compliant with all present and future SOx regulations. It offers an immediate solution due to existing infrastructure, however it is highly flammable and heavy when stored onboard.
Hydrogen does not produce CO2 and GHG, and has no noise or visual pollution. But extra cryogenic storage and materials are required for it to be used as a bunker fuel.
Ammonia generated through renewable sources will not emit any CO2 or SOx when combusted. It does not need high-pressure tanks or cryogenic drawers to work. However, it is highly toxic and corrosive so safety is an issue.
Navigating New Fuels
We understand the importance of staying ahead of the curve in a rapidly changing legislative environment. Here are the new fuels legislations that directly impact our industry, from regional regulations to global maritime directives.
IMO & MEPC 80
The IMO’s Marine Environment Protection Committee (MEPC) revised its strategy to achieve net-zero greenhouse gas emissions by 2050. The most recent MEPC 80 session adopted guidelines on the life cycle GHG intensity of marine fuels (LCA guidelines). It approved amendments to the IMO ship fuel oil consumption Data Collection System (DCS). Interim biofuel guidelines were additionally approved, specifying criteria for sustainable biofuels to enhance a ship’s CII rating.
Carbon Intensity Indicator
CII is a measure of a vessel’s operational efficiency for CO2 emissions. It will apply to all cargo and passenger vessels over 5,000 GT. In March 2024, the first annual CII report will be submitted for the calendar year 2023. Vessels will be rated A (best) to E (worst), with stricter thresholds by 2030, requiring immediate improvement actions from vessels rated C to E.
The EU ETS regulates GHG emissions in the EU/EEA through cap-and-trade, restricting tradable EU Allowances (carbon credits). Starting Jan 1, 2024, the EU ETS will cover cargo/passenger vessels of 5000GRT or more, expanding to offshore vessels in 2027. The scope will cover CO2e from 2024, adding methane (CH4) and Nitrous Oxide (N2O) from 2026. In 2024, companies must monitor, report, and verify emissions, surrendering allowances by September 2025. The phase-in period will increase from 40% allowance in 2024, 70% in 2025 to 100% in 2026. ETS covers ships trading within EU/EEA ports or voyages that begin or end in EU/EEA. It applies to 100% emissions from EU/EEA port trades and 50% emissions from EU/non-EU port trades.
Starting from 1 January 2025, FuelEU Maritime will increase the use of renewable and low-carbon fuels within international shipping in the EU. GHG emission requirements will apply to 100% of energy used on voyages and port calls within the EU/EEA and 50% of energy used on voyages into or out of the EU/EEA.
IT’S A GLOBAL EFFORT
Collaborative efforts between the shipping, energy, infrastructure, and finance sectors with support from governments and authorities will accelerate the journey to decarbonization.
Decreased cost of capital and substantial investment in greener fuels
Bunkering Supply & Infrastructure
Sufficient fuel supply at all ports with new storage facilities, bunker vessels and transfer systems
Innovative fuel storage, safety, propulsion systems and selective catalytic reduction within vessel design
Increased customer awareness and urgent need for sustainable shipping
Priority access and discounts for shipping companies based on environmental criteria
A clear, legal framework for the shipping industry that is effective globally
Learn more about our projects that support our ambitions as a greener fuel partner.
In Stavanger we have partnered with EcoUrea, leading providers in NoX, Co2 and GHG reduction reagents.Watch Video
NEW FUELS DEPARTMENT
Our experts lead the decarbonization efforts through fuel testing, research, industry coalitions and knowledge sharing projects.Contact us
Consult our experts to develop a targeted compliance plan for your fleet, ensuring adherence to regulations set for ports and areas along your journey.GET IN TOUCH WITH OUR EXPERTS