Critical negotiations are set to begin in April at the International Maritime Organization (IMO) for member states to take steps towards decarbonizing shipping by adopting a standard marine fuel and a pricing mechanism for ship emissions.<\/p>\n\n\n\n
Meanwhile, a new consortium involving major shipping companies was formalized at a signing ceremony at MIT in Massachusetts last week, aiming to tackle emissions from the shipping industry through education, research and innovation.<\/p>\n\n\n\n
The MIT Maritime Consortium is a collaborative initiative based at the Massachusetts Institute of Technology (MIT) that brings together various stakeholders from the shipping, maritime and ocean industries.<\/p>\n\n\n\n
IMO-Global Fuel Standard<\/strong><\/p>\n\n\n\n It is noted that the upcoming meetings of the IMO Marine Environment Protection Committee (MEPC) ISWG-GHG-19 and MEPC 83 will be held at the International Maritime Organization in April. The first meeting at IMO will focus on global fuel standards and the greenhouse gas levy (ISWG-GHG-19).<\/p>\n\n\n\n This will be followed by a three-day Standing Working Group on Air Pollution and Energy Efficiency (ISWG-APEE 1), which will address the review of the IMO Carbon Intensity Index (CII).<\/p>\n\n\n\n The Carbon Intensity Index is IMO\u2019s tool for measuring and improving a ship\u2019s energy efficiency, expressed in grams of CO2 emitted per tonnage per nautical mile.<\/p>\n\n\n\n At MEPC 83 \u2013 the IMO Marine Environment Protection Committee \u2013 member states will also need to agree on an ambitious set of new climate measures, including a global standard for zero- and near-zero-emission fuels, along with a levy on ships\u2019 emissions that will drive down emissions and ensure a just climate transition for international shipping.<\/p>\n\n\n\n MIT Maritime Consortium Sets Sail<\/strong><\/p>\n\n\n\n A new international collaboration brings together MIT and maritime industry leaders to develop nuclear propulsion technologies, alternative fuels, data-driven operating strategies and more.<\/p>\n\n\n\n According to MIT, approximately 11 billion tons of goods, or about 1.5 tons per person worldwide, are transported by sea each year, representing about 90% of world trade by volume.<\/p>\n\n\n\n Internationally, the merchant shipping fleet numbers approximately 110,000 ships. These ships, and the ports that serve them, contribute significantly to local and global economies – and contribute significantly to greenhouse gas emissions.<\/p>\n\n\n\n It is noted that the Founding Members of the MIT shipping consortium include the American classification society American Bureau of Shipping (ABS), Capital Clean Energy Carriers Corp., interests of shipowner Vangelis Marinakis, and HD Korea Shipbuilding & Offshore Engineering, a South Korean shipbuilding company specializing in the design, construction and maintenance of various types of ships and offshore structures.<\/p>\n\n\n\n The consortium members also include Foresight Group, a global investment firm, Navios Maritime Partners L.P., the shipping company of Angeliki Frangos, the Singapore Maritime Institute, and Dorian LPG, the interests of John Hadjipateras.<\/p>\n\n\n\n This is a pioneering collaboration between the academic community and leading players in the maritime industry, aiming to develop advanced solutions that enhance the competitiveness of the sector while reducing its environmental footprint.<\/p>\n\n\n\n This new international consortium brings together leading figures from the academic and maritime communities, developing new technologies in the field of nuclear propulsion and alternative fuels, data-driven management strategies for optimized performance and decision-making, autonomous systems and cybersecurity, as well as the manufacture of spare parts on board ships.<\/p>\n\n\n\n Addressing the climate-damaging emissions of the shipping industry \u2014 which carries 90% of the world\u2019s cargo and is responsible for 2% of global CO2 energy emissions \u2014 this initiative supports environmentally friendly ship management in line with the decarbonization goals of the International Maritime Organization (IMO).<\/p>\n\n\n\n The consortium members aim to jointly explore new technical designs that meet the economic, technological and environmental requirements of commercial shipping, assess the viability of alternative fuels, develop data-driven algorithms, and enhance autonomous platforms focused on climate, sustainability, artificial intelligence and augmented reality (AR) for industrial production.<\/p>\n\n\n\n \u201cThis consortium is a powerful coalition of leading companies that, together, have the potential to shape the future of global shipping,\u201d said Christopher J. Wiernicki, President and CEO of the American classification society ABS.<\/p>\n\n\n\n \u201c Its members are leading international organizations with significant influence. The ability to leverage their experience and expertise, combined with MIT\u2019s technological reach, is the driving force for real progress. In addition to researching key barriers, constraints and knowledge gaps on emissions, the consortium aspires to support the development of new technologies and innovation policies that are critical for the future. In the long term, it aims to provide the necessary leverage to achieve emissions reduction goals.\u201d<\/p>\n\n\n\n As a Founding Member of the consortium, Capital Clean Energy Carriers Corp. aims to play a key role by providing operational expertise and valuable practical knowledge from its diverse fleet, which includes multiple vessel types with different technologies. This collaboration aims to drive innovation, establish strong standards and shape strategic policies for the future. Leveraging this data, and in collaboration with the members of the partnership, CCEC will contribute to the development of improved artificial intelligence models and technological solutions aimed at optimizing ship performance, improving preventive maintenance and advancing autonomous decision-making.<\/p>\n","protected":false},"excerpt":{"rendered":" Critical negotiations are set to begin in April at the International Maritime Organization (IMO) for member states to take steps towards decarbonizing shipping by…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[620,2956],"tags":[1913,1238,1910,1978,70,6751],"class_list":["post-23525","post","type-post","status-publish","format-standard","hentry","category-business","category-industries","tag-maritime-companies","tag-maritime-fuel","tag-maritime-industry","tag-mit","tag-usa","tag-6751"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/23525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23525"}],"version-history":[{"count":1,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/23525\/revisions"}],"predecessor-version":[{"id":23527,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/23525\/revisions\/23527"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}