The Sustainable Shipping Initiative (SSI) on Monday (8 February) published a white paper setting out sustainability issues and principles surrounding marine fuels under consideration for shipping’s decarbonisation.
The paper, titled Defining sustainability criteria for zero and low carbon marine fuels, outlines thirteen sustainability issues and principles to be taken into consideration to ensure that the marine fuels the industry is investing in, purchasing and using to transport cargo are sustainable over their entire lifecycle and not causing negative impacts.
The sustainability principles and criteria will feed into the development of industry standards and third-party certification schemes to assure and facilitate the selection of – and demand for –sustainable marine fuels.
As the industry transitions to zero emission shipping, stakeholders across the shipping value chain are increasingly aware of the need to better understand the sustainability issues surrounding the zero and low carbon marine fuels under consideration, noted SSI.
The sustainability principles and criteria can be used by stakeholders across the shipping value chain ranging from shipowners (as fuel purchasers); fuel producers and suppliers; shipping customers; regulators; and investors in zero emission shipping.
SSI said the white paper was developed in consultation with its members and industry stakeholders to identify the sustainability issues and principles around the zero and low carbon marine fuels currently under consideration.
In parallel, academic research conducted in partnership with Copenhagen Business School (CBS) Maritime through the Green Shipping Project will further test, challenge and/or validate SSI’s work, providing a robust evidence base to inform a final set of principles and criteria to be released later this year.
Through this white paper, the SSI said it hopes to spark debate and dialogue around sustainable marine fuels as part of the industry’s decarbonisation journey and invites all interested stakeholders to engage by sharing their feedback.
“Selecting zero and low carbon marine fuels is not just about price, availability and technical feasibility. They must also be sustainable over their entire lifecycle – including the operations around the production, transport, storage, handling and use of marine fuels,” said Nicole Rencoret, Head of Partnerships and Development, Sustainable Shipping Initiative.
SSI invites industry stakeholders to join us as we work towards facilitating standard setting and putting in place certification schemes to assure marine fuels’ sustainability.”
“While it is important that zero-carbon vessels are commercially viable, technically feasible and safe, the sustainability of new fuels also needs to be equally considered,” added Katharine Palmer, Global Sustainability Manager, Lloyd’s Register.
“SSI’s new paper raises the importance of the sustainability of future zero-low carbon fuels from a lifecycle perspective – bearing in mind the impacts from primary feedstock, production processes, transport, storage and operational use, so the problem isn’t moved elsewhere in the supply chain.”
“This SSI white paper seeks to close a knowledge gap that is widely recognised by the parties who will have to implement the move to an alternate fuel/s,” said Simon Bennett, General Manager – Sustainable Development, The China Navigation Company.
“In making this move, the parties must avoid the “leakage” issue that was found with implementing the Montreal Protocol [on Substances that Deplete the Ozone Layer in 1987], in which responsible organisations, in changing to a lower ODP substance in one area inadvertently increased the Global Warming Potential of the substitute in another area.
“This white paper proposes the wide range of sustainability issues to be considered. We expect that by mid-2021, in cooperation with CBS, we will have robust data to support the next steps; the development of quantitative sustainability requirements for each criterion, and then engagement with competent external parties to certify these.”
Photo credit: Sustainable Shipping Initiative
Published: 9 February, 2021
Legal representatives met at the High Court on Tuesday to discuss the discharge of KPMG liquidators from all liability in respect of conduct in the course of winding up, show court documents.
Global sentence adjusts to 80 month’s imprisonment term for both Chang and Koh under application of the Masui sentencing framework; fine of SGD 6.2 million against Chang remains unchanged.
Company has been ranked EIGHTH for 2020; ‘we are humbled and proud to be placed amongst the top ten winners of the Enterprise 50 Awards,’ says Satnam Singh, COO, Sing Fuels.
Mads Bjornebye, Manager of Bunker Services at Teekay Tankers Ltd, shares about the company’s perspective of e-BDNs, bunker purchasing & planning tools, while offering his thoughts on future marine fuels.
Maritime sector may find it increasingly challenging to manage bunker prices, Dennis Ho, Managing Director at ElbOil Singapore tells Singapore bunkering publication Manifold Times.
NBF mulls use of blockchain-based registry of trade finance transactions as secure central database for the banking industry to streamline documentation processes and resolve transparency issues.