Page 126 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΟΚΤΩΒΡΙΟΣ 2024

OPINIONS ON GREEN SHIPPING

fuel supply and port infrastructure gaps to
ensure that compliance is feasible. Lastly,
transparency in data reporting and emis-
sions calculations, particularly under the CII
system which has raised doubts about its
design and efficiency, must be improved.

The reduction of sailing speeds is often highlighted
as essential for achieving shipping’s decarbonisa-
tion goals. However, wouldn’t energy efficiency
assume a subsidiary role in instances of limited
vessel supply?
Speed reduction primarily occurs in weak
markets, where it is directly correlated with
lower fuel consumption. During these peri-
ods of low demand, decarbonisation goals
can generally be met by vessels that do
not necessarily meet the highest efficiency
standards. On the contrary, in strong mar-
kets, slow steaming does not occur because
increased demand allows both high- and
low-efficiency vessels to be employed for
transporting goods.
In scenarios of limited vessel supply, energy
efficiency tends to assume a subsidiary
role to market forces, particularly when
demand for shipping services is high and
freight rates are elevated. Operators prior-
itise speed and capacity to meet demand
itime Regulation, being EU-specific, do and maximise revenue, even if this comes
not apply to vessels operating outside of at the expense of reduced fuel savings or
Europe. Moreover, in a weak market, the increased emissions.
implementation of these regulations could The projected increase in global popula-
significantly increase operational costs, tion to nearly 10 billion by 2050 will further
especially with carbon pricing under the impact the shipping industry, driving higher
EU ETS. demand for goods and shipping services.
Operators doubt whether the necessary This rise in demand will challenge the bal-
infrastructure and fuel supply will be avail- ance between meeting trade volumes and
able to meet the FuelEU Maritime’s strin- achieving decarbonisation goals. While slow
gent targets. The risk that current invest- steaming and upcoming regulations aim to
ments in vessels or technologies might not reduce emissions, growing demand may
comply with future regulatory requirements push certain operators to prioritise speed
adds to this uncertainty. The CII’s complex over efficiency.
metrics and the EU ETS’s auction-based Nevertheless, even though market pres-
carbon trading system are seen as admin- sures may temporarily overshadow energy
istratively challenging, especially for smaller efficiency measures, long-term regulatory
operators. Finally, new regulations must and economic pressures will still require a
account for the potential technical issues focus on decarbonisation. Energy efficiency
posed by the use of new technologies, as initiatives may take a backseat during peri-
well as the time that will be required by both ods of supply constraints, but they will
crew and operators to adapt. remain essential for meeting future envi-
To build trust, regulations need to har- ronmental and financial goals in the mar-
monise regional and global regulations itime industry.
to avoid competitive disadvantages for Ultimately, vessels with high energy effi-
operators. Clear guidance and flexibility ciency are likely to be chosen for transport-
must be offered to help operators transi- ing cargo, regardless of whether market
tion smoothly. It is also crucial to address conditions are favourable or challenging.

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