Shipping & trade : The Effects

Allianz

Feb 22, 2022

In April 2018 the IMO agreed on a draft greenhouse gas strategy for shipping requiring the shipping sector to reduce its emissions by at least 50% by 2050. Read on to know how the industry can achieve this.

The shipping industry plays a major role in transportation with regards to passengers and cargo. It is responsible for the carriage of around 90% of world trade. Without shipping, intercontinental trade, the bulk transport of raw materials, and the import/export of affordable food and manufactured goods would simply be impossible. Hence, shipping is the life and blood of global trade.


The demand for marine transportation continues to grow rapidly and could produce as much as 17% of global GHG emissions by 2050, A cruise ship’s emissions are the same as 1 Million Cars. “The maritime industry is a significant contributor to greenhouse gases. It is estimated 2.2% of global CO2 emissions from international shipping could grow between 50% and 250% by 2050, mainly due to the growth of the world maritime trade”, according to the International Maritime Organization (IMO). In April 2018 the IMO agreed on a draft greenhouse gas strategy for shipping requiring the shipping sector to reduce its emissions by at least 50% by 2050. A 50% cut in greenhouse gas emissions is a much more challenging target to achieve and one that will require the shipping industry to radically change fuels, engine technology, and even the design of these vessels. It is also projected that until 2050, “oil will continue to be the prevalent fuel used by the shipping industry”. The vessels could reduce their emissions by switching to electric power that comes from renewable sources. Small efforts like reducing the ship speed by 10% will lead to a 27% reduction of the ship’s emissions. Using Force for each engine of the ship can save significant energy and increase the engine's lifetime.


Enposs has collaborated with a few shipping companies and have proved to reduce the energy consumption by 7.9-8.8% . Check out our website to know more about the kind of industries we have worked with and achieved great results for the clients.