Page 137 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΟΚΤΩΒΡΙΟΣ 2024

ered for a major retrofit in the near term, the
industry’s efforts towards decarbonisation
are evident, both in new construction and in
existing fleets. Beyond the ships themselves,
decarbonisation efforts extend to the broader
industries required to support this transition,
including port infrastructure and fuel production
and availability.
Decarbonisation is a complex challenge requir-
ing cooperation across various stakeholders. As
these collaborative efforts increase, the pace of
decarbonisation will likely accelerate, providing
optimism for the industry's future.

According to the participants’ responses, implementing
multiple technological solutions is viewed as the most
effective way to reduce a ship’s carbon footprint. Is the
shipping industry nearing a tipping point where substan-
tial benefits from the implementation of technological
solutions will be witnessed?
Over the past decade, perceptions of how tech-
nology can support shipping’s decarbonisation
have improved. However, technological inter-
ventions, whether single or multiple, remain a
small part of the global fleet. Significant prog-
ress is still needed to reach a tipping point. This
moderate uptake can be attributed to factors
such as uncertainty surrounding past environ-
mental policy, unclear benefits of technology
before installation, commercial and operational
challenges, post-installation results that have
not been in line with expectations, lack of veri-
fied performance data, high CapEx and OpEx,
and outdated business models for improving
energy efficiency and reducing greenhouse gas
emissions.
On the positive side, incorporating more efficient
hull designs and multifuel engines has been a
growing trend in multi-technology newbuilds.
Early-stage technologies, such as wind-assisted
propulsion systems (WAPS), are becoming more
cost-effective thanks to innovative manufactur-
ing processes and operational experience, with
the dry bulk sector being the most interested
in such retrofit ventures. Additionally, publicly
funded grants now require independent, third-
party validation of performance.
Decision-makers are increasingly recognis-
ing the importance of vessel-specific studies
to accurately assess the benefits and risks of
multi-technology solutions. Recent regulatory
instruments and global initiatives, like the newly
established Maritime Emissions Reduction Cen-
tre (M-ERC), will help drive the industry towards
tangible actions that reduce greenhouse gas
emissions, either through operational improve-
ments or technological advancements.

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