A team from the Vessel Technology Assessment System (VTAS) project called shippers to motivate operators to improve fuel efficiency in maritime shipping. Reduced fuel consumption and emissions could benefit shippers, as they will provide reduction in shipping costs, improved supply chain carbon footprints, and a good reputation.
More and more shippers are showcasing their desire to achieve a more sustainable shipping industry. Recent developments at the IMO, with the decision to reduce shipping emission by at least 50%, show that maritime shipping wants to contribute to efforts to reduce global carbon emissions.
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The Vessel Technology Assessment System (VTAS) project has been commissioned and funded by the Energy Technologies Institute (ETI). Its objective is to help the shipping industry understand the benefits of investing in fuel-efficient technologies for existing and future vessels.
Namely, the VTAS project wants to enable sensible investment decisions around energy saving technologies. The project will run for 12 months, and ti will offer tools and, independent technical and financial support. Successfully implemented solutions will depend on aligning the players and motivators within commercial marine.
The VTAS team said:
Investment complications due to the conflicting interests of charterers and owners are well known. It is also clear that there is a lack of trust in the data and analysis provided by developers of energy saving technologies. The industry is seeking the independent analysis and transparency that allows sensible investment decisions with shared risk strategies.
