The technical and operational short-term measures — Efficiency Existing Ship Index (EEXI) and Carbon Intensity Index (CII) — adopted by the International Maritime Organization must be implemented and, therefore, the shipping industry needs to consider the contractual implications.

To meet this challenge, Bimco has developed a new EEXI transition clause and is forming clauses for emissions trading systems and the CII regime to help the industry meet these future challenges.

Tackling greenhouse gas in the year ahead

This article is one of more than three dozen contributions from shipping industry stakeholders about their outlook for decarbonisation efforts in the year ahead. We asked shipowners, managers, financial professionals, technology providers and more about their own efforts to address greenhouse gas emissions in 2022 and what they hope to happen in the industry this year.

Click here to read the full report.

Several steps must also be taken in parallel to steer the shipping sector towards decarbonisation.

Firstly, our industry urgently needs an acceleration of research and development, and to significantly increase and coordinate financing to support the development of low and zero-carbon fuels and technologies.

Secondly, the IMO needs to speed up the development of a market-based measure.

Thirdly, the guidelines on well-to-wake lifecycle emissions of fuels need to ensure that we do not unintendedly shift emissions upstream or to another sector by choosing the “wrong” alternative fuels.

Lastly, it is crucial to ensure that we have a common understanding of the terminology used when revising the IMO’s strategy on the reduction of greenhouse gas emissions. A common understanding is needed for the IMO to move forward in the years to come.

The industry’s decarbonisation challenges need careful planning both in the short and long term.

In the short term, our shipping division is focusing on 2023 regulations, while our shipyard division is focused on being a partner for finding decarbonisation solutions for our customers, particularly for modifications.

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The long-term challenges are bigger for the shipping division, and we follow research into new fuels and designs closely, as well as developments within the area of infrastructure.

Personally, my work in the Turkish Marine Environment Protection Association (TURMEPA) continues for cleaner seas for future generations. I believe the climate crisis requires a holistic view, and we must all commit to do our best.