Report finds biofuels most affordable option for shipping

Commissioned by the Sustainable Shipping Initiative (SSI), an independent London, UK based charity, the report “Zero Emissions Vessels, what needs to be done?” was geared to the needs and requirements of SSI members, who are mainly involved in deep-sea trades with container ships, bulk carriers and tankers.

The report makes clear that the technology is with us today, but investment is needed both to bring the technology to scale and to encourage a wider take-up. The shipping industry will need multiple solutions, and investment for different technologies – not just biofuels – to reach beyond fuel efficiency to decarbonisation, said Stephanie Draper, Chief Change Officer for Forum for the Future and SSI co-chair.

Launched on May 16, the report was authored by Lloyds Register and UMAS. It also examines electric power and hydrogen fuel cells, and takes note of the upstream carbon dioxide (CO2) emissions which need to be resolved as these fuels will have to be judged on an environmental performance from “well to wake,” and not just on emissions from ships.

As shipping is now in concert with the Paris Agreement, the benefits of other land-based technologies and energy production should help to drive down upstream emissions for ships fuel. As a result of this report, the SSI is engaged in a deep-dive into biofuels in 2018 to assess the viability of biofuels for the world fleet.

Biofuels represent a stepping stone to further emissions reduction. Alternative marine fuels provide a huge opportunity for creating value and finding sustainable solutions. The SSI will continue to look at the whole value chain and this report highlights that the next ten years will see huge changes in the way ships are fuelled, said Tom Holmer, General Manager of the SSI.