Energy Efficiency in Maritime Transport: A Key to Lower Emissions
The maritime transport sector plays a crucial role in global trade, moving 70-80 percent of internationally traded goods daily. Recent analyses highlight the importance of energy efficiency in shipping, suggesting that it can significantly reduce emissions and costs. A new report titled “Keys to Energy-Efficient Shipping” reveals that by 2030, energy efficiency measures alone could cut ship emissions by up to 40 percent. This reduction aligns with the International Maritime Organization’s targets of decreasing emissions by 20-30 percent by the same year.
The focus on alternative fuels, such as biofuels, hydrogen-based fuels, and liquefied natural gas, has dominated discussions about the maritime sector’s energy transition. However, energy efficiency has received less attention, appearing in less than a third of related media coverage. This oversight raises questions about the potential benefits of enhancing energy efficiency in a sector that is vital for global trade.
The report emphasizes that improving energy efficiency not only addresses climate change concerns but also benefits communities near ports that suffer from air pollution caused by ship traffic. More than half of the proposed energy efficiency measures come at a negative cost, meaning they can pay for themselves through savings on energy consumption. For instance, implementing wind-assisted propulsion systems, such as rotor sails on bulk carriers, or reducing the speed of container ships can lead to significant cost savings.
Cost-Effective Solutions and Market Opportunities
The findings from the report indicate that energy efficiency is an ideal complement to alternative fuels. Together, these strategies can facilitate a smoother transition from fossil fuels to greener options. The potential market opportunity is substantial, particularly for developing countries like South Africa, Colombia, and Morocco. Estimates suggest that the transition to green fuels could save as much as $220 billion annually.
Energy efficiency measures not only lower the fuel costs for new ships operating on green methanol or green ammonia but also benefit existing vessels still reliant on fuel oil. By reducing overall fuel consumption, these measures can enhance the economic viability of both new and retrofitted ships.
As the maritime industry continues to evolve, the emphasis on energy efficiency could reshape the landscape of shipping. By prioritizing energy-saving technologies and practices, the sector can achieve significant emissions reductions while also realizing cost savings. This dual benefit underscores the importance of integrating energy efficiency into the broader conversation about sustainable shipping practices.
