RINA classification society discuss the report “From Today until 2050: Challenges and Opportunities for the Maritime Industry”.
In 2023, with the revision to the IMO’s Greenhouse Gas Strategy, the shipping industry made significant progress towards confronting the need to reduce, and ultimately remove, its reliance on fossil fuels.
The report “From Today until 2050: Challenges and Opportunities for the Maritime Industry”, published by the RINA Italian Decarbonisation Committee starts this process. In comprehensively surveying the risks and opportunities, the pros and the cons, presented by the various marine fuel and energy solutions, it provides a solid platform from which stakeholders can build the coordinated actions necessary to deliver on the IMOs GHG Strategy towards net zero.
The need to identify new fuels and energy sources, design new engines for those fuels, invest in the refuelling infrastructure, and scale up the supply of new fuels are all necessary.
Adequate training of shoreside personnel and crew dealing with alternative fuels is also essential. The legal and regulatory frameworks must be formed, including liability regimes. Absent such a framework the insurer’s role of properly pricing the risks associated with their use becomes impossible, or at the very least unnecessarily expensive. The ability to identify risks allows for progress to be made to put in place a global regulatory framework on liability for these new fuels.
It challenges the one size fits all belief when it comes to a fuel or energy source of choice, focuses on the real meaning of decarbonisation in the marine sector and the relevant implications.
Full advisory at the following link.
https://north-standard.com/insights/news/imo-ghg-strategy-under-focus/