LR noted that in order to achieve at least a 50% reduction in CO2 by 2050, it is of a great importance for Zero-emission vessels (ZEVs) to enter the fleet around 2030.
Additionally, a majority of new-builds will have to be zero emission to compensate for the non-zero emissions of the existing fleet.
From a practical perspective, if zero-emission vessels (ZEV) need to enter service by 2030 anyone planning to finance, design or build a ship in the 2020s will need to consider how it can switch to non-fossil fuel later in its operational life.
Also, experiences in innovative zero emission technologies, as wind, hydrogen fuel cells and batteries, makes it obvious that there are many possibilities for the shipping industry to become 'zero-carbon'.
The next step would be to show that these alternatives are viable to hydrocarbon propelled shipping, up to 2030.
Lloyd's Register and UMAS, have partnered to develop a new 'Transition Pathways study', in order to highlight what is needed to make this transition smooth, both for the vessel and supply infrastructure level.
The study will focus on:
- How will ZEVs be safely adopted and operated?
- What roles will actors like policy-makers, financiers and consumers need to play?
- How much development do fuel technologies require to meet this target?
- How will the industry address safety and emission concerns?
- And what role will competitive pricing play in this transition?
- The ‘Zero-Emission Vessels: Transition Pathways’ study will be launched on 29 January during a webinar co-hosted by UMAS and moderated by Nor-Shipping.