The fourth edition of the ABS Setting the Course to Low Carbon Shipping series was introduced at Posidonia 2022 on Tuesday, with a focus on the industry’s potential in the energy system change.
In a speech at the launch Georgios Plevrakis, ABS Vice President, Global Sustainability, said: “In the Outlook we are trying to explore the new dimensions – how shipping could enable the transition and how shipping can benefit as an enabler? What fuels and technologies are available for shipping to lead the transition rather than be a follower?”
To reach net zero emissions across the energy system, energy efficiency and behavior modification will be required. In order to decarbonize the worldwide maritime energy system, electrification, renewables, hydrogen and hydrogen-based fuels, and carbon collection, utilization, and storage will be the major pillars.
“This is why exploring the two critical energy transition value chains of hydrogen and carbon is at the heart of this latest research from ABS,” Plevrakis said.
The research examines how shipping will become a crucial enabler of value transformation as a transporter of new energies, as well as the technologies that will make use of these new energy sources.
The report also explores the shipping limits applicable to liquid hydrogen and liquid carbon dioxide carriers that could support these two value chains.
The ABS report does not stop at technology and adds an extra layer looking at carbon economics. “We attempt to unwrap these new layers of decarbonization, by navigating though the concepts of Carbon Pricing Mechanisms, Carbon Offsets Carbon Accounting and, ultimately, Carbon Economics,” Plevrakis said.
