Container Supply Chain Programme Wednesday 30th November / 15:30 - 16:30 SGT
After the release of the IPCC’s latest report on climate change, the maritime industry must now accelerate its pace to reach the Net Zero Carbon 2050 goal. However, not only is the energy transition in Asia going too slow, but the goal on a global scale could cost the maritime industry around $3.4 trillion worth of investments to meet IMO-mandated climate goals over the next 30 years, according to the economist Martin Stopford.
The main reason behind this is the lack of a clear roadmap for the sector to follow, which is in turn the result of uncoordinated efforts, led by several industry stakeholders not working together.
With new technologies, alternative fuels, joint ventures, and modern infrastructure coming into the game, industry stakeholders in Asia have now the opportunity to capitalize on the region’s role within the world’s supply network and bring secure a sustainable future for the maritime & logistics sector.
A key element of decarbonising maritime trade is transitioning to a new source power, yet this process presents several questions: What fuel to transition to? What is the required infrastructure for it? How can it be transported? What are the cost and business implications?
Furthermore, other industries are looking to decarbonise their operations as well, hence, shipping will have to compete with other industries for their share of these lower-carbon and carbon-free fuels, especially across e-fuel candidates that require green electricity for its production, such as green ammonia, methane (synthetic LNG), methanol and hydrogen.
While LNG is an alternative fuel that is in use today but will be a short to mid-term solution, industry leaders like Maersk are already deploying carbon neutral vessels powered by methanol; nonetheless, ammonia and hydrogen are predicted to be the main marine fuels by 2050.
Hydrogen, ammonia & e-ammonia, methane, biomethane & e-methanol, biofuels, LNG… with this apparent multiplicity of alternatives for the industry, there is no obvious winner in the marine fuels debate yet. What remains clear, however, is the need to accelerate the pace of energy transition to meet IMO goals, which will only be possible through intersectoral collaboration.
What is the right alternative fuel right now? And will it remain the same in the future? How can we develop an alternative fuel strategy?
How can the industry effectively deploy alternative fuels across the supply chain?
How can the public & private sector work together to ensure energy transition?
What are the technology and infrastructure requirements for effectively transitioning towards alternative fuels?
Ashna Mishra, Global Lead – Shipping, Strategic Engagement & Intelligence Group, S&P Global Commodity Insights
PRESENTATION TITLE TO BE ANNOUNCED Koh Yong Ping, Chief Executive –Marine & Offshore, Bureau Veritas Marine
THE ZERO EMISSION TERMINAL –HOW TO CONNECT THE GREEN FUTURE Xiaowei Jiang, Key Account Manager - Port Technology, VAHLE South East Asia MARITIME DECARBONISATION Shivaprakash Rao, Head of Consulting Critical Infra & Energy Transition, Asia Pacific, BMT