An article released this week by Forbes explains the big changes that the shipping industry will have in the coming decades regarding the fuels used to power these massive vessels.
According to the IMO (International Maritime Organization), with the growth in global economy estimated to grow by 130% by 2050, CO2 emissions could increase drastically over the next 30 years, as well as the release of nitrogen oxides and sulfur oxides from vessels across the global.This has begun raising the question – how can we minimize our impact on the environment in this regard? One of the few options brought to the table was utilizing electricity over fuel, which would follow in the footsteps of today’s rapidly growing electric automobile industry. Another is the use of liquefied natural gas (LNG), which is already being used by around 150 ships around the world and releases nearly zero sulfur oxide emissions.
The industry has already put several regulations into place to reduce these emissions by introducing restrictions on key shipping routes across the world and placing sufur emission caps on 4 key areas. Additionally, more restrictions and regulations are set to go into effect in 2020.