The International Maritime Organisation (IMO) secretary-general, Mr. Arsenio Dominguez, expressed strong confidence in the global shipping industry’s progress towards achieving its greenhouse gas emissions reduction goals. During an interview at the Singapore Maritime Week on April 19, he stated that the sector is on track to finalize a comprehensive strategy by next year to meet targets aimed at net-zero emissions by 2050. This plan marks a significant update from 2018, which encouraged a 50% reduction in emissions but lacked firm interim targets for 2030 and 2040.
The revised strategy, announced in 2023, outlines measures intended for approval by 2025, with implementation slated for 2027. Net-zero emissions imply a balance where greenhouse gas emissions are equivalent to those being removed from the atmosphere. To assist in achieving these objectives, the IMO is collaborating with external consultants to analyze various scenarios and assess stakeholder concerns. Additionally, the organization is developing a technical and financial framework to facilitate the transition.
The IMO, a specialized agency of the United Nations with 176 member states, oversees the safety, security, and environmental performance of international shipping. Notably, the interest in cleaner marine fuels, such as methanol, is rising as part of the emissions reduction strategy. The demand for methanol-powered ships has surged, with 138 orders placed in 2023 compared to only 35 the previous year. Among these orders was a significant acquisition by the Singapore-based Ocean Network Express, which is set to receive 12 methanol dual-fuel ships by 2027.
Aligned with these initiatives, Singapore is advancing its maritime sector’s transition by establishing a maritime energy training facility designed to equip approximately 10,000 seafarers and maritime personnel with the skills needed for using cleaner fuels. This facility is expected to be operational by 2026. Singapore’s port terminals aim to achieve net-zero emissions by 2050, as outlined in the Maritime Singapore Decarbonisation Blueprint launched in 2022. The strategy includes progressive reductions in domestic harbour craft emissions through alternative energy solutions, including blended biofuels and electric propulsion systems.
While discussing geopolitical challenges, such as maritime security threats, Dominguez reassured that the IMO remains focused on its decarbonisation goals despite these concerns. The ongoing commitment of member states to find consensus and implement effective measures is crucial for the advancement of sustainable practices in the maritime industry. The collective efforts demonstrated by countries like Singapore set a valuable example for global initiatives in driving maritime sustainability.
