The UK Chamber of Shipping has outlined a roadmap for the UK shipping industry to reach net zero by 2050, with a proposed £700m investment in the upcoming Budget to help make the UK a hub for clean shipping.
According to the Chamber, with the right support, the UK could become a leading hub for future fuels, creating jobs not only in port cities but across the entire shipping supply chain. Currently, the UK supplies around two million tonnes of fuel to ships annually, compared to Rotterdam’s ten million tonnes. As demand for cleaner fuels grows, the UK has a chance to play a major role in the clean maritime fuel industry.
The Chamber has made several recommendations to the government, highlighting areas where public investment can unlock significant private funding:
- Continuing research and development funding through UK SHORE.
- Providing shore power so ships can plug in at ports instead of running their engines.
- Protecting essential ferry services from costly emission trading scheme fees until they can fully decarbonise.
- Ensuring the UK maritime sector has the necessary skills and workforce for the future.
Rhett Hatcher, the CEO of the UK Chamber of Shipping, stated that it was important not to congratulate themselves merely for agreeing on a target, especially since there was still much work to be done both domestically and internationally to achieve it. He emphasized the need to maximize opportunities for the UK Government, with industry support, to take the lead in international negotiations aimed at establishing effective mechanisms for reducing emissions globally.
He noted that the UK would welcome a successor to the 2019 Clean Maritime Plan. According to him, this new plan should serve as a multi-year framework that enables collaboration between the public and private sectors for emissions reduction within the UK shipping industry. This would include ensuring adequate grid capacity to meet shore power demand, continued investment in research and development, and providing incentives to encourage the adoption of alternative low and zero-emission fuels.