THE IMO 2050 AGENDA

Channoil’s Mark Waddington explains why the short term for marine fuels will be ‘lower carbon’, not ‘decarbonisation’. The world is under increasing pressure to decarbonise. Channoil Consulting, in association with Gibsons’ Shipbrokers, has investigated the context of decarbonisation in the maritime sector, taken a reality check on the fuelling options and likely short-term solutions, and examined fuel economics for the likely short-term options. CONTEXT OF DECARBONISATION Policing global quality standards is not easy. Other transport fuels such as gasoline and diesel can be – and have been – regulated at a country or regional level. However, the aviation and shipping sectors have managed to circumvent pressure to increase fuel emissions for two main reasons: The need to impose consistent global standards, without any exceptions or escape options. A conservative approach to the adoption of new fuel emission standards where this would introduce safety risks (aviation) or impose additional capital. But this historic tendency has now started to change. For the shipping sector, this commenced with the introduction of specific Environmental Control Areas...