G2 Ocean, a Norwegian bulk shipping joint venture between Gearbulk and Grieg Star, has committed to becoming net zero emissions by 2050 and to bring in zero emission vessels by 2030.
The company said that in addition to the reduction of greenhouse gas emissions per transported unit by a minimum of 40% by 2030 from 2008 levels, it would also offer net zero transport options within this year and work with customers and partners to test new green technologies and with ports to build sustainable infrastructure and procedures.
“These ambitions demonstrate our commitment to creating sustainable value for our customers while strengthening our future competitiveness and supporting environmental change in the shipping industry,” said Arthur English, CEO of G2 Ocean.
G2 Ocean has already undertaken a number of initiatives on its journey towards net-zero, including its very first biofuel trial to power the 46,500 dwt general cargo vessel, Star Istind, on its voyage from Europe to North America.
The company added that it is also exploring other alternatives to fossil fuels with 11 industry partners, such as green ammonia, to power open hatch vessels on transatlantic voyages. An ESG and decarbonisation manager role within the company has also been established.
G2 Ocean operates a core fleet of around 126 open hatch and conventional bulk vessels between 23,500 dwt and 73,000 dwt that cover 37 trade lanes and mostly ship pulp and paper, steel, lumber and primwood, bulk and project cargoes.