Cruisebusiness.com — Decarbonisation Faces Technical and Financial Challenges

A new and complex IMO regulation-The Carbon Intensity Indicator (CII) – has accelerated the cruise industry’s drive to reduce fuel usage (for both propulsion and hotel functions) and emissions through new technology and other operating efficiencies.

In January 2022, MSC Mediterranean Shipping Company’s CEO Soren Toft spoke at the DNV Fuel of the Future conference, where he highlighted our successful partnership to install the Silverstream® System across MSC’s newbuild pipeline.

The shipping industry is adjusting to a new normal with the introduction of targets to reduce greenhouse gas emissions and increased costs, particularly for fuel, so vessel efficiency is now a top priority.

In the context of the international shipping industry decarbonization, a group of new players have entered the industry. Air lubrication technology is one of the prominent and reliable technology in the current market. Although some shipowners still adopt the “wait and see” strategy, many people have chosen to test the solution on their ships.

As the CEO and founder of a leading maritime clean technology company, I would agree that the results from MEPC 77 were disappointing. However, I would argue that they do not reflect the renewed energy within the industry to tackle decarbonization directly and get ahead of regulation.

Managing the switch to clean energy represents a monumental challenge in shipping and beyond, but it’s self-evident that for the world’s oil majors it’s more challenging than most. It’s a task that Shell has taken to heart with its Energy Transition Strategy, which was overwhelmingly approved by shareholders in May 2021.