Decarbonising the shipping industry requires collaboration and investment in developing new fuel types and propulsion technologies, with hydrogen fuel poised to play an important role in the energy transition of this sector, reports the World Platinum Investment Council (WPIC).
Establishing safe technologies that the industry has confidence in is a vital part of achieving a move away from fossil fuels, it states.
The shipping industry is vital to the global economy, with about 90% of all globally traded goods transported by sea. But, with about 100 000 commercial vessels in deployment, it accounts for about 3% of global greenhouse-gas (GHG) emissions.
The WPIC states that the International Maritime Organisation (IMO) – a United Nations agency responsible for regulating shipping – aims to reduce GHGs from ships by at least 50% from 2008 levels by 2050.
In this regard, the WPIC…