BUSINESS

Energy a key theme at this year’s Posidonia

TAGS: Shipping, Energy

Maritime energy has taken center stage at this year’s Posidonia shipping exhibition, as the deadline for all companies to conform to the International Maritime Organization (IMO) requirements for cleaner fuel is leading to significant changes in the industry as well as new business opportunities.

“The major theme of this Posidonia is energy, with the pressure of meeting the 2020 and 2050 decarburization targets, as set by the IMO,” observed Nigel Lowry of Lloyd’s List regarding the biennial event that concludes on Friday.

The IMO has imposed a global sulfur cap of 0.5 percent on fuel, effective from January 1, 2020.

It has also targeted a 50 percent reduction of carbon dioxide emissions from 2008 to 2050.

Shipowners’ plans for meeting those targets include the employment of scrubbers – oil treatment systems that remove sulfur from the fuel – and the use of liquefied natural gas (LNG) as ship fuel.

On Tuesday China’s Cosco Shipping signed a letter of intent with Mitsubishi Shipbuilding Company for the manufacturing of a new scrubber demo test facility.

[Xinhua]

Online