The World Maritime Day, takes place on 26 September 2024. Commemoratory initiatives will follow in IMO headquarters in London with symposiums centering around the organization’s 2024 World Maritime Theme: Navigating the future: safety first, declared last year.
This year marks 50 years since the IMO adopted the 1974 SOLAS Convention (the key treaty for regulating maritime safety). With the advent of AI technology and digitization current maritime will undoubtedly be on achieving optimal safety and security to streamline similar developments, for the future.
The need for urgency in this matter is evident in a report published by the Sea Cargo Charter (SCC) in 2023. It had indicated the need for the shipping industry to address and take action in order to reverse the 17% setback against the climate goals as set by the International Maritime Organisation (IMO). As per SCC, this percentage is equivalent to 165 million metric tonnes of CO2 and this can be attributed to misaligned goals of 22% by the signatories. However, the number of signatories is fast growing and within 2024 alone, 35 have committed to demonstrating their interest in adhering to the global targets.
Nonetheless, challenges still remain at the forefront of achieving these sustainable goals. The Vice President of the MSC Cruises’ (the Swiss-Italian global cruise line) Linden Coppell, finds that the conversation for generating energy on-board ships and investigating renewable fuels and their commercial viability as a tool to achieve efficiency for the future. The Global Maritime Form estimated last month that a £3.2tr investment is required to practically achieve goals of accessing alternative fuels made from renewable power. There is undoubtedly a lot of work that needs to be put in when considering the feasibility of these targets, to equally prepare for risks involved.
Interestingly, Diane Gilpin, the founder of Smart Green Shipping Alliance emphasized the importance of tapping into wind-based solutions, as opposed to fuel-centric approaches in order to make more promising developments. According to her, “There are approximately 60,000 ships in the global shipping fleet and – according to a Department for Transport study – nearly two-thirds of them are suitable for wind technologies… These solutions reduce uncertainty in the short term, assure regulatory compliance, reduce off-hire time and minimize costs”.
On the other hand, researchers estimate a third of oil and gas tanker fleets showing declines in profits were demand for fossil fuel eradicated by 2050 as per the targets of the Paris Agreement. This raises further questions. But at the same time this transition, where global shipping runs low carbon e-fuels, could foresee the creation of 4 million green jobs across sectors.
David Baur from AELER Technologies, focuses on the importance of smart container technology by optimizing routes to reduce distance and in turn, reduce carbon footprint. He identified the significance of sustainable practices of handling container after-life; such as upcycling containers as housing units or having them recycled as the way forward to avoid resource exhaustion to build greener practices long-term. Thus, this forecast could prompt leaders and investors to redirect investments when evaluating a way ahead for sustainable transformations.
