Lloyd’s Register (LR) and University Maritime Advisory Services (UMAS) have released ‘Zero-Emission Vessels Transition Pathways’.
This report is a study that aims to show what is needed to enable the transition, both at the ship and supply infrastructure level, to deliver zero-emission vessels (ZEVs) that are crucial to achieve the IMO’s Greenhouse Gas (GHG) Strategy 2050 ambition. The study demonstrates to all stakeholders what action needs to be taken now.
The new ‘Zero-Emission Vessels Transition Pathways’ study seeks to address key questions about ZEVs such as: what needs to happen between now and in the next three decades for ship deployment? And what needs to happen within this period to develop the supply infrastructure?
The study looks at the key milestones, barriers and enablers over the specified time frame, and considers cost implications, operating profile and how policy measures such as carbon pricing could influence the outcomes.
Previous LR and UMAS studies, Low Carbon Pathways (in conjunction with Shipping in Changing Climates) and Zero-Emission Vessels 2030, have shown that to achieve at least a 50% reduction in CO2 by 2050 and to be on course for a CO2 pathway consistent with the Paris Agreement, ZEVs need to be entering the fleet around 2030. What’s more, a significant portion of new-builds will have to be zero emission to compensate for the non-zero emissions of the existing fleet.
So, by investigating all key energy sources that would allow zero-carbon fuels to enter the shipping fuel market: renewable electricity, bio-energy and fossil fuels with Carbon Capture and Storage (CCS), our Transition Pathways study supports those who are planning to finance, design or build a ship in the 2020s and who will need to consider how their ships can switch to non-fossil fuel later in its operational life. And for those not directly associated with ship building or operating: the shipping industry must now establish collaborative joint ventures involving the shipping industry partners but also fuel technology companies, equipment manufacturers and energy developers from other industry sectors so we can develop, scale and commercialise the uptake of ZEVs.
Download the full report from www.lr.org/en/insights/global-marine-trends-2030