EnvironmentOperations

Shipping industry can save $50bn through four enablers of operational efficiency

A new insight brief series from the Global Maritime Forum has identified four actions that maritime and shipping industries can take now to support shipping’s transition to a sustainable and resilient zero-emission future. Maximising vessel and fleet performance through operational efficiency can reduce annual fuel costs by $50bn at today’s prices, according to the research.

“We need to clean up shipping supply chains and optimise our operations. To do this, we must collaborate, standardise, and be transparent. Let’s share the benefits of slowing down and let’s collectively make a difference,” said Eman Abdalla, global operations and supply chain director at Cargill Ocean Transportation.

Up to 20% of fuel costs can be saved and even more if combined with energy-efficient technologies, the new research suggests. The study also suggests that optimising operational efficiency has the potential to reduce annual emissions by more than 200m tonnes of CO2.

Four types of solutions are identified in the brief: better transparency and standardisation of performance data; scaling up pilots and best practices; contractual changes to encourage virtual arrival practices when there is a delay at the discharge port; and policies and regulations to enable new business models.

Splash readers can access the full report by clicking here.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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