Page 128 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΟΚΤΩΒΡΙΟΣ 2024

OPINIONS ON GREEN SHIPPING

George Lozos discusses the risks associated with investing in new technologies for
newbuildings while recognising the significance of embracing new technological solutions.

THE DECARBONISATION

OF OUR INDUSTRY

WILL COME AT A

SIGNIFICANT COST

35% (almost one in three) of the survey participants would
invest in neither CO2 capture systems nor in LNG, methanol or
ammonia engines to improve the energy efficiency of a newly
built ship. Does this finding raise concerns about the pace of
the industry’s decarbonisation?
There is no doubt that the shipping industry’s pace
toward decarbonisation will be impeded as a result of
limited investment in the solutions mentioned above.
In my opinion, though, what is more impressive in the
research’s finding is the fact that 65% of today’s con-
tracted newbuildings would indeed embrace the high
CapEx “modern decarbonisation” technologies, such
as carbon capture, dual fuel engines, etc. This is a very
clear indication of our industry’s proactive approach to
decarbonisation.
On the other hand, while these technologies appear very
attractive and promising, they are still in the very early
stages of development, and the bunkering infrastruc-
ture for future fuels is basically non-existent. Moreover,
we must also consider the sophisticated crew training
required to understand and master these technologies.
Finally, given that these solutions have not yet been
fully implemented, I believe that the substantial capital
costs associated with their adoption may put new-
building investments at great risk should certain tech-
by George Lozos, nologies prove to be unreliable in the harsh marine
Fleet Director environment due to hazards, or if the cost of producing
at Universal Shipping Alliance (USA) green fuels is excessively high.
& Universal Tankers Corporation (UTC)

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