Page 118 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΟΚΤΩΒΡΙΟΣ 2024

OPINIONS ON GREEN SHIPPING

On the other hand, the EU ETS is a
more efficient framework, having
operated for almost two decades in
other sectors. By making emitting
CO2 more expensive, this regulation
incentivises the emitter to become
more efficient. Revenue from the
ETS is used to support investment in
energy efficiency improvements that
reduce emissions. However, a side
effect of the ETS is that it increases
the cost of transporting goods, which
will ultimately be passed on to the
end consumer.

The reduction of sailing speeds is often high-
lighted as essential for achieving shipping’s
decarbonisation goals. However, wouldn’t
energy efficiency assume a subsidiary role in
instances of limited vessel supply?
The reduction of sailing speeds, also
known as “slow steaming”, can indeed
reduce GHG emissions. It is a mea-
sure of immediate effect and contrary
to many of the proposals discussed.
Unfortunately, though, it is a short-term
measure of limited effect: it cannot lead
to decarbonisation but will help reduce
emissions until zero-carbon solutions
are adopted. Furthermore, slow steam-
ing would reduce ton-mile supply,
pushing freight costs higher.
The EU ETS, FuelEU Maritime, and CII have The fact that decarbonisation is an
all been criticised as regional or inefficiently expensive project is often a second-
designed regulations. How can a regulation ary consideration, but not one of
focusing on a vessel’s energy efficiency lesser importance. The EU ETS reg-
ensure fairness, transparency, accountability, ulation directly increases the cost
and competitiveness? of transporting goods, as does slow
Decarbonisation is a global effort steaming. Alternative or zero-carbon
and various institutions are involved, fuels are significantly more expensive
imposing regulations aimed at incen- than fuel oil or LNG, and their use also
tivising the adoption of greener prac- incurs additional costs, as storing
tices. Unfortunately, not all regula- them onboard reduces the vessel’s
tions are well-structured and efficient. capacity, thus limiting ton-miles. Fur-
The Carbon Intensity Indicator (CII) is thermore, setting up the necessary
a notable example of this. There are infrastructure to handle these new
two problems with it: firstly, it pena- fuels is also very costly.
lises shipowners for factors outside All these costs will inevitably be
their control and, secondly, it inad- passed on to the end consumer.
vertently encourages practices that Therefore, while decarbonisation
are intended to reduce a vessel’s CII should not be slowed down, the com-
but actually increase emissions. The mercial viability, efficiency, and com-
CII needs to be reviewed and revised petitiveness of the shipping industry
in order to measure each vessel’s true must be considered. An unbalanced
efficiency by eliminating non-relevant approach could create problems in
factors and supporting the effort of the future and potentially slow down
reducing GHG emissions. the decarbonisation process.

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