Shipping still in dark over clean fuel solutions

Shipping companies are still waiting for “real green” fuel solutions as part of decarbonization efforts to clean up the industry, a leading industry official said.

Shipping, which transports around 90% of world trade and accounts for nearly 3% of the world’s CO2 emissions, is under growing pressure from environmentalists to deliver more concrete action, including a carbon levy.

“We are still awaiting engine and shipbuilders to come up with real green solutions,” Haralambos Fafalios, chairman of the Greek Shipping Cooperation Committee (GSCC), said in a speech at an annual event in London this week: “We need a simple incentive such as a fuel levy as a medium-term measure until safe alternative fuels become available in the long term.”

The industry has been testing a number of cleaner fuel options including ammonia and methanol as well as trialing wind sails in an effort to look for new solutions away from dirtier bunker fuel.

Fafalios said many companies, whether in shipping or commodity traders, “are touting the strengths of their favorite fuels, but none so far has a real green footprint on a well-to-wake basis.” [Reuters]