Major Shipping Firms Dedicate $5bn To Clean Fuel Research

Major Shipping Firms Dedicate $5bn To Clean Fuel Research

7 major global shipping firms have between them pledged $5 billion to develop new clean fuel systems to tackle pollution caused by the industry.

The firms’ aim to decarbonise transoceanic shipping has been received positively by the wider industry and environmental campaigners alike. Shipping accounts for 3% of global emissions and for 90% of how goods are transported around the globe.

Currently viable options include biofuels, green hydrogen, ammonia, renewable electricity and fuel-cells.

The ship owners also are also welcoming a fuel levy to help support research and development in the future. The shipping industry is known for being heavily subsidised, with legislation protecting them from taxes in most parts of the world, however these calls signify a change in attitudes and an acknowledgement that pollution will not tackle itself.

This move also comes following an International Maritime Organisation regulation which has seen fuel suppliers innovating for the January 2020 date which it is set to come into effect, for heavy fuel oil suppliers cut the amount of sulfur used in ship fuels. The sulfur-containing fuel, when heated before combustion, creates harmful sulfur dioxide as a by-product which is released into the atmosphere. It is thought that the reduction of sulfur in the fuel will dramatically improve public health, particularly in the world’s busiest major port areas such as Shanghai, Singapore, Rotterdam, Los Angeles and Valencia.

The international shipping community is clearly demonstrating wider awareness and an eagerness to follow many of the world’s heavy industry communities in their commitment to tackle climate change.

More information:

Read: Chinese Firm to Manufacture 200,000 ‘New Energy’ Vehicles by 2025

Read: All-Female Sailing Team ‘eXXpedeition’ on a Mission to Clean Up Our Oceans

Read: IMO 2020 – cleaner shipping for cleaner air

By Sofi Summers

Main Image: Emma Maersk, Roy, Flickr Creative Commons