Carbon clean-up: curbing carbon emissions in the maritime sector - Baird Maritime

Posted July 6 2010 - Baird Maritime

The maritime sector, a key generator of global trade and economic activities, is undergoing structural changes influenced by many trends, factors and developments. They include political, economic, social, technological, financial, environmental and legal forces that have transformed and will continue to influence the landscape of the sector in many ways.

In addition to these, concerns over carbon emissions have emerged as a key driver that is reshaping the way industry players think, plan, invest and operate. There is growing pressure for the sector to clean up its act amid growing demand for maritime-related services such as shipping, port operations, shipbuilding, ship repairing and host of other ancillary services. Players in the maritime sector simply cannot maintain the status quo and hope for the problem of global warming to go away. As demand for services in the maritime sector grow in line with growing global seaborne trade, offshore oil and gas activities and other economic activities requiring ships, ports and other maritime components, emissions from the maritime sector is expected to be on the rise.

To underscore the gravity of the question at hand for the maritime industry, take the case of merchant shipping which facilitates much of international trade volumes. Despite shipping contributing a mere 3.3 percent of the global total of carbon emissions (see diagram 1) (1), it was estimated that carbon emissions from shipping had doubled since 1990 (2). It was also projected that carbon emissions from shipping will grow by a factor of two to three by 2050 from 2007 levels should no regulatory measures are put in place to lower the emissions (3). The levels of sulfur oxide (SOx) emanated by merchant vessels which use normal high sulfur fuel are significant, and urgent actions are required to reduce them (4).
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