ABS: Supporting the vision for a decarbonized shipping

The biggest drivers of change  in the maritime industry are the global and regional environmental regulations that seek to address climate change. These go beyond the targets set by the International Maritime Organization; they extend to the European Union and to local rules applied by major maritime nations.

In response, the maritime industry is in a period of transformation and that means class is preparing and evolving too. ABS has established a strong focus on sustainability and digitalization and the challenges that come with new maritime technologies, providing guidance and practical support to the industry. 

What is immediately clear is that considering the alternative fuels available today, there is no way we can reach the IMO 2050 targets without retrofitting a large proportion of the existing fleet with energy efficiency technologies and carbon capture. Electrification and battery technology will also have a significant role to play and never overlook the significant potential of modern nuclear reactors both for propulsion and to produce alternative fuels.

And we should not overlook the importance of infrastructure here, which is a critical factor in the maritime energy transition and will define the scalability as well as availability of low carbon fuels.

Cross-industry convergence towards a smaller pool of alternative energies –focussing on the most viable and available options– could be the key to unlock a faster energy transition. 

Achieving the reduction targets requires the existing fleet to become much more efficient. ABS research suggests to utilize energy efficiency improvement technologies to reduce aggregate fuel consumption by 15% on the existing fleet and newbuild vessels.  The increase in the number of energy efficiency technology investments indicates that owners are responding to this challenge. 

ABS support for decarbonization comes through participation in hundreds of Joint Development Projects, many of them pioneering in the fields of very large ammonia and liquefied CO2 carriers, LNG vessels and carbon capture technologies well as research to identify barriers to the adoption of modern small nuclear reactors. 

It also requires development of the rules, the guides and the related documents and Approvals in Principle that encourage innovation. These programmes also mean that class must continue to develop in-house talent relative to new technologies and add to our skills base when needed.

The pathway to net zero emissions from shipping is a long and complex one. The improvements require all new ships to be capable of using dual fuel – or at least be ready to do so. At the same time, there needs to be dramatic improvements to the efficiency of the existing fleet. 

The industry is in a continuous process of change. The evolution we are experiencing is large and dramatic and it will happen increasingly quickly. We have not experienced anything like this in the last 40 years. The change in fuel types, new technology and operating processes, as well as the regulation that governs us, is all to some extent new. 

There are very challenging times ahead, but it’s a great opportunity for all of us to deliver a better world for the next generation.