The Global Maritime Forum (GMF) has identified five key action areas to improve the operational efficiency of vessels.
ccording to GMF, the implementation of operational efficiency strategies plays a critical role in reducing shipping emissions today, while also preparing the industry for a more manageable long-term transition to a zero-emission future. Meanwhile, leading maritime companies have voiced their ambition to adopt vessel optimisation strategies that can decrease annual fuel consumption by 20%, reduce annual emissions by more than 200 million tonnes of CO2, and enable the uptake of more expensive, scalable zero-emission fuels in the long run, GMF notes.
The five actions cover:
- Data collection and transparency
- Contractual changes
- Pilot projects
- Ports, terminals, and value chains
- Culture and leadership.
Participating companies and supporting organisations have signed an ambition statement agreeing to take collective action in these five areas, diligently assess their maturity and progress, and take a leadership role in bringing operational efficiency to the forefront of the shipping agenda.
As GMF explains, optimising shipping operations provides an opportunity to act now, using existing technologies and not requiring high capital investments or complex regulatory compliance. Rather, optimisation requires bold leadership, changing mindsets, and a willingness to embrace existing solutions that will minimise the environmental impact of operations—all in a commercially viable way.
This is especially true as more and more industry studies find the 2030 emissions target unlikely. For instance, GMF’s own study found that zero-emission fuel production currently in the pipeline could end up covering just a quarter of the fuel needed to deliver the breakthrough.
Operational efficiency measures should and can be taken now, without waiting for new technological advancements like the procurement of zero-emission fuels and newbuild vessels.
… commented Jesse Fahnestock, the Global Maritime Forum’s Project Director for Decarbonisation
Three participating companies – Chevron, Euronav, and Cargill – announced the joint ambition statement as part of the Global Maritime Forum Annual Summit in Athens.
Chevron Shipping is proud to support the Global Maritime Forum’s ambition statement on operational efficiency. Chevron and the Global Maritime Forum are aligned on increasing efficiencies, decreasing fuel consumption, and lowering the carbon intensity of operations.
… said Mark Ross, President, Chevron Shipping
The signatories of the operational efficiency ambition statement are: Amaggi, Blue Visby, Bunge, Cargill, Chevron Shipping, COFCO International, Copenhagen Commercial Platform (CCP), Euronav, Genco Shipping, Lloyd’s Register, Louis Dreyfus Company, Maersk Tankers, NAPA, NYK Group, OCIMF, Oldendorff Carriers, Port of Açu, Port of Rotterdam, PSA International Pte Ltd, Rubis Energie, Siglar Carbon, Signol, Stena Bulk, Stephenson Harwood, Torvald Klaveness, UKHO, Viterra, Watson Farley & Williams LLP (WFW), Wisdom Marine Group, and Zero North.
The decarbonisation pathway starts today – not in 2030 or even in 2050. This is the reason Euronav joined the Global Maritime Forum’s operational efficiency work in the first place, and why signing and acting on the ambition statement was a no-brainer.
… highlighted Lieve Logghe, Interim CEO, Euronav
Additionally, Eman Abdalla, Global Operations and Supply Chain Director, Cargill Ocean Transportation pointed out that there is no decarbonisation without collaboration, and Cargill is proud to support this initiative. It is the right catalyst to bring the necessary collective and transformational change, she added.