International shipping does not want to be a climate bad guy and is aiming to be emission-free by 2050. A new tool can help shipowners who are searching for green solutions.
Shipowners around the world are in a very difficult position, because they are having to order new ships now that will run on fuel and technologies that are not yet fully developed.
"They need to choose a machinery system and make plans for the future. At the same time, there is considerable uncertainty related to fuel prices, carbon pricing, fuel bunkering availability and safety," he says. "A lot is still under development, but the decisions made today will affect the possibilities for retrofitting and fuel choices in the future. This means that the shipowners have to commit to a decision to a certain extent, and thereby run the risk of not meeting future standards and expectations related to the environment," says Lagemann.The study is based on a fleet of Supramax ships.
"Anyone investing in new ships or upgrading their fleet must make decisions now, or have plans for how they intend to meet the climate requirements," says Professor Kjetil Fagerholt from the Department of Industrial Economics and Technology Management.A lot is at stake, and shipowners need to act quickly. A standard Supramax cargo ship costs approximately NOK 300 million to build, and specialized ships can cost a lot more. The service life of these vessels is typically 20-30 years.
Benjamin Lagemann says the model highlights many of the issues related to the choice of fuels, but not all of them. It requires few input parameters, and is therefore relatively easy to reuse. The intention is to give an indication of which solutions will work best over time.More than 80 per cent of the goods in global trade are transported refrigerated.
"No, we don't know. But several industry actors, designers and shipping companies, both in Norway and abroad, have shown interest."A key step to achieving climate neutrality in the European Union is to rapidly shift from fossil fuels to electric technologies powered by renewable energies, a new study shows. At the same time, ...
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