A new free report exploring the impact digital technology can make on shipping’s greenhouse gas (GHG) emissions has been released, identifying three key digital steps shipowners can take to achieve decarbonisation objectives.
Compiled by maritime innovation consultancy Thetius, and sponsored by the Inmarsat Research Programme, The Optimal Route – The Why and How of Digital Decarbonisation in Shipping recommends that shipowners ‘Know your numbers’ as Step 1 in the process, by measuring vessel performance against metrics including the Carbon Intensity Index (CII) and the Energy Efficiency Existing Ship Index (EEXI).
Based on the report’s findings, Step 2 recommends developing a roadmap for decarbonisation, to include a flexible approach to asset purchasing and development. Step 3 advises owners to participate in green corridor schemes to gain access to favourable ship finance.
The publication also suggests an industry ‘pathway to 2050’, highlighting the policy-based initiatives that will play the most significant role in guiding shipping towards decarbonisation.
These include ‘Just-in-time clauses for voyage charter parties 2021’; the Poseidon Principles ship finance charter, which seeks to encourage financial institutions to invest in greener vessels; global maritime carbon levies to accelerate the uptake of zero-carbon fuels; and the Sustainable Shipping Initiative’s ‘beyond compliance’ scheme.
“New regulations and changes to the way cargo owners are selecting transport partners mean that ‘business as usual’ is no longer an option and this report from Inmarsat and Thetius demonstrates a positive way forward for shipowners,” said Ben Palmer, President at Inmarsat Maritime.
“Shipping lines that act decisively on digitalisation and decarbonisation will move ahead; those that don’t will be frozen out of preferential financing, green incentive schemes and the most lucrative charter and cargo carriage agreements.”