The maritime industry has raised environmental concerns, mainly related to emissions.
Based on reports, ocean shipping accounts for greater than 80% of world trade by volume and contributes nearly 3% of the world’s total greenhouse gas output. Efforts to curb emissions on this industry have gained momentum in recent times, fueled by increasing awareness of climate change.
A December report titled “Decoding Maritime Emissions” questions whether a big reduction in emissions is a real step toward sustainability or a byproduct of market conditions.
The report was created by VesselBot, a greenhouse emissions reporting tool for the maritime sector that leverages virtual models of ocean fleets, or digital twins, to supply accurate emissions records for stakeholders.
“We all know where the vessel has been, which ports it has called, how much time it’s been at anchorage, the vessel’s average speed, what number of containers it has unloaded for every voyage and rather more. … We’re using technology at the side of real data, content from satellites coming from all different sources, so it gives you a more holistic understanding of the [ocean] market and the way that market performs with reference to a selected carrier’s performance,” VesselBot co-founder Constantine Komodromos told FreightWaves.
![](https://www.freightwaves.com/wp-content/uploads/2023/12/18/emiss.png)
This month’s report attributes a noteworthy reduction in maritime emissions to a mix of technological advancements, operational improvements and the adoption of cleaner fuels. It suggests that the industry is making significant strides toward meeting international emission reduction targets.
For instance, from January to July 2023, container vessels saw a notable 12% decrease in greenhouse gas emissions, measured in kilograms of carbon dioxide emitted per metric ton of products shipped, as compared to the corresponding period in 2022.
While the report paints an optimistic picture, the broader context stirs some skepticism. It’s unclear whether the reduction in emissions is a results of real efforts to mitigate environmental impact or a consequence of market dynamics.
Reduced demand for shipping within the initial half of 2023 prompted shipping firms to take measures including canceling voyages, slowing down sailing speed and redistributing large container vessels away from major trade routes. Large container vessels operating on those routes covered prolonged distances between the purpose of origin and destination, resulting in a notable increase in carbon dioxide emissions per metric ton of products they shipped, in keeping with the VesselBot report.
The maritime industry is at risk of economic fluctuations, and in periods of economic downturn, there is commonly a decline in shipping activity. This will inadvertently result in lower emissions resulting from reduced demand somewhat than intentional emission reduction strategies.
The maritime sector can be subject to evolving environmental regulations, and compliance with these regulations could also be a driving force behind emission reductions. Nonetheless, meeting regulatory standards doesn’t necessarily equate to a proactive commitment to sustainable practices.
“This market is slower to adopt [alternative fuel] solutions. It’s not like you may go and buy a brand new automotive or truck inside the subsequent month; you wish two or three years to construct a brand new vessel, and a few alternatives aren’t available to speculate in. These are also tough to make use of and require plenty of investment in infrastructure to have the option to utilize a network of other fuels available in any respect ports. You have got got a much slower process for decarbonization within the maritime industry,” said Komodromos.
While any reduction in maritime emissions is a positive development, it is important to approach such reports cautiously. The interplay of market conditions, regulatory requirements and economic considerations have to be considered when evaluating the authenticity of emission reductions, Komodromos explained to FreightWaves.
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