Decarbonization Of Shipping

Abstract

The main goal of this Thesis is to analyze the modern and critical issue of shipping decarbonization providing an analytic approach on crucial questions which affect the global shipping nowadays. According to recent studies, the maritime industry is accountable for more than 85% of the world’s trade. At the same time, it consumes 2% of the world’s energy demand, adding 3% to the overall Greenhouse Gas (GHG) emissions. Based on these numbers, it can be said that the industry is one of the most energy advanced and efficient industries, but in parallel particularly harmful for the environment. It has been legislated by the International Maritime Organization (IMO) that, until 2050 the air emissions of the industry must have been reduced by 50% compared to 2008. Since early 2020, the so-called Sulphur cap has been activated, which dictates that sulphur-based emissions should be reduced to 0.5%. In order to achieve the IMO goals various pathways have been developed, of which the most common are speed reduction (slow steaming), scrubbers’ installation and Low Sulphur Fuel Oils (LSFO). Nevertheless, the long-term studies agree that in order to achieve the IMO goals, the industry should move towards new alternative fuels, emitting lower or zero harmful gases. Based on these facts, this Thesis will try to provide a critical overview of the current state of the maritime field and its contribution to the world’s trade and economy, emphasizing on the global shipping. IMO Marine Environment Protection Committee applied the MEPC regulations 75, 76 and 77 on June 2021, building on Energy Efficient Existing Ship Index for existing ships and Energy Efficient Design Index for new buildings (came into force since 2013). In addition, IMO has also adopter the Carbon Intensity Indicator (CII) which basically requires specific goals on vessels for reducing their carbon operational emissions (came into force on January 1st 2023). All these measures are indicated in MARPOL Annex VI – Ship Decarbonization as per IMO regulations.