Offshore Magazine Publication

ENGLAND — The maritime transport industry is vital to our present day globalized world, with approximately 90% of traded commodities reliant on shipping. The global shipping industry is estimated to be responsible for about 2.5% of global CO₂ emissions. This is further compounded by the strong reliance on heavy fuel oil, which when combusted produces CO_x, NO_x, SO_x and particulate matter (PM) emissions.

The shipping industry is estimated to be the source of 13% of the worlds SO_x emissions. A key issue with SO_x is its existence as PM2.5, which are particles small enough to pass through the lungs into the bloodstream contributing to myriad health conditions. SO_x emissions can be so mitigated by using low-sulfur fuel oil; however, this comes at an increased financial cost.

An increasing number of regulations and targets are being implemented to reduce the greenhouse-gas (GHG) emissions produced by shipping. The International Maritime Organization has set stringent targets to reduce the carbon footprint of international shipping by at least 40% by 2030, compared to 2008 levels. Whilst the 2021 EU Green Deal sets in place targets for a 90% reduction in port city GHG emissions by 2050. Furthermore, the EU has publicly declared the need to bring shipping under its Emissions Trading System, which sets caps on the emissions of companies per annum, with financial implications for companies that breach this limit.